Metropolitan areas --unions of nearby built-up locations within which people travel on a day-to-day basis among places of residence, employment, and consumption--serve as a fundamental unit of economic analysis. But existing delineations of U.S. metro areas--including metropolitan Core-Based...

This paper analyzes the role of uncertainty in a multi-sector housing model with financial frictions. We include time 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...

Since the 1970s almost all states have introduced a form of joint custody after divorce. We analyze the causal effect of these custody law reforms on the incidence of marriage and divorce. Our identification strategy exploits the different timing of reforms across states and the control group of...

Since the 1970s almost all states have introduced a form of joint custody after divorce. We analyze the causal effect of these custody law reforms on the incidence of marriage and divorce. Our identification strategy exploits the different timing of reforms across states and the control group of...

Approximately $30 billion (2000$) has been spent on Superfund clean-ups of hazardous waste sites, and remediation efforts are incomplete at roughly half of the 1,500 Superfund sites. This study estimates the effect of Superfund clean-ups on local housing price appreciation. We compare housing...

This paper analyzes the role of uncertainty in a multi-sector housing model with financial frictions. We include time 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...

Home adequacy for different groups in the U.S. has not been adequately studied. Using the data from the national level American Housing Survey for the year 2009 and logit model, this paper finds that there is a significant adequacy difference for Blacks and Hispanics when compared to whites in...

This paper investigates the U.S. housing price dynamics from the perspective of speculative trading, in addition to the macro-finance factors such as the stock market, household disposable income and nominal interest rate. It is found that among the speculative investors, fundamental traders...