Assessing the quantitative relevance of match quality and search frictions for house price dispersion is key to understanding house price formation and the importance of uninsurable housing wealth shocks. In this paper, we use a unique auction-level data set from Norway, combined with a...

We study scar formation and persistence after a house price bubble has burst using data on 3,089 US counties and county equivalents over the period 1980q1-2019q4. We date house price booms and busts for each county, and identify periods with explosive house price developments. Applying a sharp...

In 1967, John Krutilla suggested a relationship between car camping, canoe cruising, and cross-country skiing and induced demand for wild, primitive, and wilderness-related opportunities. Here, the time trend of cross-section parameter estimates of the relationship is examined. Households...

This article studies environmental and distributional effects from a differentiated tax system on a set of disaggregated transportation goods. Empirical examination on Norwegian data indicates that higher tax rates on high-pollution luxury modes of transportation such as air flights and taxis...

This article studies the process from data acquisition to policy decision in relation to an optimum policy on global warming. Policymakers must be reasonably skeptical before proposing remedies to curb warming, but policymakers cannot await the final proof of any proposal's merit. Balancing...

We estimate Engel elasticities of housing expenditures for each independent cross-section of the Consumer Expenditure Surveys in the period 1986-1998, and find that the elasticity remains close to unity for all years. Its mean over the period is 1.02. Engel and demographic effects for housing...

This article presents a new way of estimating latent total consumption in a household that may improve the accuracy of studies into permanent income and consumption inequality. While the frequently used total purchase expenditure in a household is an unbiased estimator of latent total household...

This article describes the consumption model and inequality study of Chapter 2 in the author's unpublished Ph.D. dissertation submitted at the Dept. of Economics, University of California, Berkeley. The Norwegian Research Council and Statistics Norway financed the project; project no....

Growth studies show, counter to intuition, that the discovery of a natural resource may be a curse rather than a blessing since resource-rich countries grow slower than others. But it has been suggested that Norway may be an important exception to the curse and that the curse does not afflict...