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varying uncertainty (i.e. risk shocks) in the technology shocks that affect housing production. The analysis demonstrates that … risk shocks to the housing production sector are a quantitatively important impulse mechanism for the business cycle. Also … countercyclical behavior of risk premia on loans to the housing sector. -- Agency costs ; credit channel ; time-varying uncertainty …
Persistent link: https://www.econbiz.de/10008657366
varying uncertainty (i.e. risk shocks) in the technology shocks that affect housing production. The analysis demonstrates that … risk shocks to the housing production sector are a quantitatively important impulse mechanism for the business cycle. Also … countercyclical behavior of risk premia on loans to the housing sector …
Persistent link: https://www.econbiz.de/10013142481
This chapter surveys the literature on housing in macroeconomics. We first collect facts on house prices and quantities in both the time series and the cross section of households and housing markets. We then present a theoretical model of frictional housing markets with heterogeneous agents...
Persistent link: https://www.econbiz.de/10014024264
varying uncertainty (i.e. risk shocks) in the technology shocks that affect housing production. The analysis demonstrates that … risk shocks to the housing production sector are a quantitatively important impulse mechanism for the business cycle. Also … countercyclical behavior of risk premia on loans to the housing sector. -- agency costs ; credit channel ; time-varying uncertainty …
Persistent link: https://www.econbiz.de/10009733806
Persistent link: https://www.econbiz.de/10008650496
Persistent link: https://www.econbiz.de/10012121736
While there is a great deal of literature focusing on the relationship between income and fertility, little is known about how wealth affects fertility decisions of the household. This paper fills this gap in the literature by investigating how changes in housing wealth affect fertility. In...
Persistent link: https://www.econbiz.de/10013148400
Persistent link: https://www.econbiz.de/10011934573
Persistent link: https://www.econbiz.de/10014512904
Persistent link: https://www.econbiz.de/10015061768