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This paper tests the "lock−in" effect of mortgage contract terms and establishes the link between changes in market interest rates and homeowner mobility. The analysis is based on the Panel Study of Income Dynamics during 1990−1993, when mortgage interest rates declined by almost 30...
Persistent link: https://www.econbiz.de/10010536218
This paper develops a model of price formation in the housing market which accounts for non-random selection of those dwellings sold on the market from the stock of existing houses. The model also accounts for changes in the quality of dwellings themselves and tests for mean reversion in...
Persistent link: https://www.econbiz.de/10010843003
The most significant U.S. housing subsidy programs are funded by tax expenditures through the Internal Revenue Code (IRC). Beyond the subsidy to homeownership provided to all owner occupants through the personal income tax, the IRC provides additional subsidies to specific groups of homeowners....
Persistent link: https://www.econbiz.de/10010843005
Research on climate change suggests that small improvements in the "sustainability" of buildings can have large effects on greenhouse gas emissions and on energy efficiency in the economy. This paper analyzes the economics of "green" building. First, we analyze a panel of office buildings...
Persistent link: https://www.econbiz.de/10010843006
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Using micro data from the US Census, this paper tests the importance of the spatial isolation of minority and poverty households for youth employment in the largest US metropolitan areas. We first estimate a model relating youth employment probabilities to individual and family characteristics,...
Persistent link: https://www.econbiz.de/10010843202
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