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Following the global financial crisis, many countries have introduced or tightened macroprudential policies. Using an agentbased model (ABM), this paper seeks to measure the impact on house price cycles of two distinct borrower-based macroprudential instruments, namely loan-to-income and...
Persistent link: https://www.econbiz.de/10012017491
Cities worldwide have regulated peer-to-peer short-term rental platforms claiming that those platforms remove apartments from the long-term housing market, causing an in- crease in rents. Establishing and quantifying such a causal link is, however, challenging. We investigate two policy changes...
Persistent link: https://www.econbiz.de/10012258925
In China's regulated housing markets, a married couple may strategically choose to divorce in order to purchase more houses and/or purchase with more favorable leverages. Our study examines the strategic divorce behavior induced by two major types of housing market regulations in China, quota...
Persistent link: https://www.econbiz.de/10012846961
contribution of housing market regulation towards these declines. First, a 1sd rise in housing market regulation is associated with … elasticities, the rise in housing market regulation accounts for 12-24% of the decline in worker reallocation between 1990 and 2009 …
Persistent link: https://www.econbiz.de/10012899389
In spite of a growing recognition of the importance of supply conditions for the level and volatility of house prices, empirical work on housing supply outside the US is scarce. This paper considers various measures of housing supply in the Netherlands, where real house prices have roughly...
Persistent link: https://www.econbiz.de/10011372990
Housing affordability in the United States is a perennial concern. We explore the role of information asymmetry and regulations on equilibrium outcomes in rental markets to show that while landlords price the cost of regulations into rent, they also invest in tenant screening to alleviate...
Persistent link: https://www.econbiz.de/10012935408
housing production costs absent regulation. Identification uses conditions on the support of supply and demand shocks … housing price ascribable to regulation, but with substantial dispersion, and with higher rates in areas that are higher priced … quality is nondecreasing in amenities) among buildings within 1km, we bound mean regulation from below by 19\% of prices …
Persistent link: https://www.econbiz.de/10013492167
Housing market developments are in the spotlight in Europe. Over-stretched valuations amid tightening financial conditions and a cost-of-living crisis have increased risks of a sustained downturn and exposed challenging trade-offs for macroprudential policy between ensuring financial system...
Persistent link: https://www.econbiz.de/10014355770
Persistent link: https://www.econbiz.de/10012150506
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