This paper provides a comprehensive account of the evolution of default risk for newly originated home purchase loans since 1990. We bring together several data sources to produce this history, including loan-level data for the entire GSE book. We use these data to track a large number of loan...

We use new property-level data to estimate the price of land from 2000 to 2013 for nearly the universe of detached single-family homes in the Washington, DC metro area and characterize the housing boom-bust cycle in land and house prices at a fine geography. The data show that land prices were...

The authors argue that the pattern of multifactor productivity (MFP) growth across industries may presage a second wave of productivity advance supported by the digital economy.

Our analysis produces three main findings for our sample: land prices in most areas increased between 2012 and 2017, land prices tended to rise faster than house prices, and land appreciated most rapidly in areas with relatively high density of structures.

The authors find that the shift reflects a combination of increased bank demand for jumbo loans and higher government-sponsored enterprise g-fees.

We use a large dataset of land sales dating back to the mid-1990s to construct land price indexes for 23 MSAs in the United States and for the aggregate of those MSAs. The price indexes show a dramatic increase in both commercial and residential land prices over several years prior to their peak...

In this paper, the authors exploit the Federal Housing Administration's (FHA's) surprise 50 basis point cut to its annual mortgage insurance premium in January 2015 to study the impact of federal housing policy and interest rates on housing demand for a population of households likely to be...

Given the slowdown in labor productivity growth in the mid-2000s, some have argued that the boost to labor productivity from IT may have run its course. This paper contributes three types of evidence to this debate. First, we show that since 2004, IT has continued to make a significant...