consistent with micro evidence on housing choices. We find that a decline in the rate of household formation, increased delay in …

and recovered only partially during the 2001-2005 housing boom. The 1980-2000 decline in young home ownership occurred as …

This working paper comments on Karsten Jeske and Dirk Krueger's 'Housing and the Macroeconomy: The Role of Implicit …

-generation model with housing. We find that the long-run importance of the introduction of new mortgage products for the aggregate …

that the volume of housing transactions increases when the payment profile is increasing and households have little housing … participation effects without increasing the volatility of the housing market. The model predicts that the expansion of mortgage …

This paper analyzes a model in which housing tenure choice serves as a means of screening households with different …

In this paper, we review the German practice of imputing the costs of owner-occupied housing by increasing the relative … weight of actual rents in the CPI. As the structure of owner-occupied housing differs substantially from that of rental … housing, this variant of the imputation method may cause a bias in the German CPI. For assessing the appropriateness of the …

indices often fail. We apply hedonic methods to rental housing services, which display less quality progress. However, as … German households devote about 10 % of their total expenditure to rented housing services, even a small bias in this field …-Economic Panel, we perform a hedonic analysis of housing rents and compile different price indices. Overall, we conclude that there …

This paper examines the relation between money and housing variables in the euro area and in the US. Our empirical … model is based on a standard money demand relation which is augmented by housing market variables. In doing so, co … inflation channels, that is, liquidity fuels housing market developments. …

This paper documents the trends in the life-cycle profiles of net worth and housing equity between 1983 and 2004. The … net worth of older households significantly increased during the housing boom of recent years. However, net worth grew by … more than housing equity, in part because other assets also appreciated at the same time. Moreover, the younger elderly …