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...

The Wealth Building Home Loan (WBHL) represents a class of shorter-maturity mortgages that provide a low-risk path to homeownership and wealth accumulation while maximizing buying power. WBHLs are easy-to-understand loans that combine standard mortgage features in a novel way. Importantly, they...

In this paper, we use a new property-level dataset to estimate the price of land since 2000 for nearly 600,000 detached single-family homes in the Washington, DC metro area. We employ these estimates to characterize the recent boom/bust cycle in land prices and house prices in the Washington...