Showing 41 - 50 of 4,859
This paper examines some of the more recent mortgage products now available to borrowers. The authors describe how these products differ across important characteristics, such as the down payment requirement, repayment structure, and amortization schedule. The paper also presents a model with...
Persistent link: https://www.econbiz.de/10005519678
After the collapse of housing markets during the Great Depression, the U.S. government played a large role in shaping the future of housing finance and policy. Soon thereafter, housing markets witnessed the largest boom in recent history. The objective in this paper is to quantify the...
Persistent link: https://www.econbiz.de/10010558737
This paper explores the baby boom's impact on U.S. house prices and interest rates in the post-war 20th century and beyond. Using a simple Lucas asset pricing model, I quantitatively account for the increase in real house prices, the path of real interest rates, and the timing of low-frequency...
Persistent link: https://www.econbiz.de/10005069321
Persistent link: https://www.econbiz.de/10005051309
The corporate income tax rate in the U.S. is almost forty percent. This high tax rate has been associated with depressing employment growth. Cutting or even eliminating corporate income tax has been proposed during the recent presidential campaigns based on the idea that a lower tax rate can...
Persistent link: https://www.econbiz.de/10010735404
Housing economists have questioned whether current US tax and government mortgage policy actually fosters homeownership. In this paper we examine this question interms of a dynamic general equilibrium model with heterogeneous agents. The model allows households to make saving and shelter...
Persistent link: https://www.econbiz.de/10005051411
market fundamentals
Persistent link: https://www.econbiz.de/10011122456
In this paper we revisit the connection between changes in interest rates, loan-to-value ratios and expectations in inaÌuencing housing prices. We construct a two good general equilibrium model in which housing is a composite good produced using structures and land. We show that changes in...
Persistent link: https://www.econbiz.de/10011079984
Persistent link: https://www.econbiz.de/10011080540
Persistent link: https://www.econbiz.de/10011080972