investment demand more strongly after a contractionary shock, the price of capital declines sharply, which incentivizes all firms …

nominal contracts (NSCNC). We extend the ABSS framework to allow for endogenous and heterogeneous household labor supply among …

in areas that experienced the sharpest housing busts. A lowering of the housing supply elasticity implies a strengthened … has been weak. Using data for 254 US metropolitan areas, we show that housing supply elasticities have fallen markedly in … recent years. Housing supply elasticities have declined more in areas where land-use regulation has tightened the most, and …