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News and Noise in the Housing Market
Gazzani, Andrea Giovanni - 2016
prices related (news) and not related (noise) to future fundamentals. I provide empirical evidence of the sizable … macroeconomic effects of news and noise shocks. Following Forni et al. (2014, 2016), I identify news and noise shocks through a non … frequencies, but in the short-medium horizon noise shocks explain a large share of the variability in housing prices, residential …
Persistent link: https://www.econbiz.de/10012986653
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Interest Rate Fluctuations and Equilibrium in the Housing Market
Arslan, Yavuz - 2008
We study the general equilibrium of the housing market in an economy populated by overlapping generations of households. A contribution of the present paper is to solve for the housing market equilibrium in the presence of aggregate (interest rate) uncertainty with a realistic mortgage contract....
Persistent link: https://www.econbiz.de/10014049379
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Dynamic Spillovers in the United States: Stock Market, Housing, Uncertainty and the Macroeconomy
Antonakakis, Nikolaos; Andre, Christophe; Gupta, Rangan - Department of Economics, Faculty of Economic and … - 2015
In this study we examine dynamic macroeconomic spillovers in the United States, with a particular focus on the stock market, housing and economic policy uncertainty (EPU). Based on monthly data over the period 1987M1 to 2014M11, our findings reveal the following features. First, the transmission...
Persistent link: https://www.econbiz.de/10011265896
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Financial Frictions, the Housing Market, and Unemployment
Branch, William - 2014
We develop a two-sector search-matching model of the labor market with imperfect mobility of workers, augmented to incorporate a housing market and a frictional goods market. Homeowners use home equity as collateral to finance idiosyncratic consumption opportunities. A financial innovation that...
Persistent link: https://www.econbiz.de/10013064308
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Housing Market Risks in the Wake of the Pandemic
Igan, Deniz; Kohlscheen, Emanuel; Rungcharoenkitkul, … - 2022
I) House prices rose strongly in advanced economies during the pandemic, breaking with typical post-recession patterns. These developments support domestic demand in the short term but carry risks to the outlook if they reverse. II) Rapid economic recovery, fiscal support and high saving rates...
Persistent link: https://www.econbiz.de/10013297596
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The ins and arounds in the U.S. housing market
Bachmann, Ruediger; Cooper, Daniel - 2014 - This version: July 21, 2014
In the United States, 15 percent of households change residence in a given year. This result is based on data from the Panel Study of Income Dynamics on gross flows within and between the two segments of the housing market-renter-occupied properties and owner-occupied properties. The gross flows...
Persistent link: https://www.econbiz.de/10010384803
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The impact of changes in dwelling characteristics and housing preferences on house price indices
Reusens, Peter; Vastmans, Frank; Damen, Sven - 2022
Hedonic house price indices adjust the average sales prices for the change in the quality of the property sold over time. This paper proposes a framework to disentangle the contribution of each individual dwelling characteristic to this quality change. We apply our framework to a unique dataset...
Persistent link: https://www.econbiz.de/10013193786
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Improving well-being through better housing policy in New Zealand
Barker, Andrew - 2019
New Zealand’s housing supply has not kept pace with rising demand, including from net immigration. Affordability has worsened, particularly for low-income renters. Government action is underway to allow new housing through initiatives such as the Urban Growth Agenda, KiwiBuild and the Housing...
Persistent link: https://www.econbiz.de/10012111105
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Do sunk costs affect prices in the housing market?
Ratnadiwakara, Dimuthu; Yerramilli, Vijay - In: Management science : journal of the Institute for … 68 (2022) 12, pp. 9061-9081
Persistent link: https://www.econbiz.de/10014285344
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Housing Price Hikes by Negative Real Interest Rate? A Differencing Model Test on the Housing Markets of Hong Kong and Macau
Yiu, Edward Chung Yim - 2015
This paper aims to test the effect of real interest rate on housing return, by using the differencing model for eliminating the effects of other factors. Even though the relationship has been tested before, but it is hard to eliminate other factors when studying the effect of real interest rate...
Persistent link: https://www.econbiz.de/10013033283