Purpose – This paper aims to study to what extent an insurance based on a house price index provides equity protection for homeowners. Design/methodology/approach – The paper uses a novel dataset of all housing market transactions in the metropolitan area of Melbourne 1990-2006, to construct...

We consider a novel set of data comprising every transaction in the Netherlands’ housing market between 1995 and 2011, and take a closer look at the idiosyncratic risk as it played out in those years. Shiller and Weiss (1999) proposed a home equity insurance policy that eliminates...

The paper proposes a model of on-the-job search and industry dynamics in which search is directed. Firms permanently differ in productivity levels, their production function features constant returns to scale, and search costs are convex in search intensity. Wages are determined in a competitive...

Purpose – This paper aims to study to what extent an insurance based on a house price index provides equity protection for homeowners. Design/methodology/approach – The paper uses a novel dataset of all housing market transactions in the metropolitan area of Melbourne 1990‐2006, to...