Associated with climate change are the rising frequency, probability, and intensity of natural hazards, as stated by IPCC (2014). To contribute to the evaluation of climate change consequences, we study the impact of river floods caused by torrential rain periods, which are supposed to become...

We use Norwegian tax data and a life-cycle model with housing to study how wealth transmits across generations through the housing market. After controlling for a rich set of attributes, households with richer parents are nearly 15% more likely to be homeowners at age 30. Moreover, when...

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...

In this paper, we study the house price effects of local school choice opportunities among public primary schools using a rare and large-scale reform that abolished binding catchment areas in North RhineWestphalia, the largest German state with 18 million inhabitants. To estimate the reform's...

Inspired by the literature on social polarisation and residential segregation we draw on a probabilistic approach to pursue the evolution of household location preferences in West Germany. Using microdata from the German Socio-Economic Panel (SOEP) for the period 1984-2020 we demonstrate that...

This paper studies whether the interplay of social comparisons in housing and rising income inequality contributed to the household debt boom in the US between 1980 and 2007. We develop a tractable macroeconomic model with general social comparisons in housing to show that changes in the...

This paper analyses rental contracts in the housing market assu-ming asymmetric information about tenant related `service cost' andimperfect mobility. On the positive side it explains why long standingtenants tend to enjoy lower rents |the so called `tenure discount'. Onthe normative side, it...

This paper examines the usefulness of the Zillow Observed Rent Index (ZORI) in predicting CPI rent inflation. Using data from February 2015 to October 2023, we demonstrate that while ZORI provides valuable insights into future movements in CPI rent inflation, its effectiveness is limited to...

We examine the effects of the legal reform passed in 2012 in Spain to protect mortgage debtors. Under the new regime, it is difficult for low-income debtors who meet certain requirements to be evicted. In the case of default, the bank is forced to offer the debtor a restructuring of the debt, or...

Situated atop condominium buildings, 'top floor units' (TFU) offer unparalleled views and privacy, courtesy of accessible roofs. This paper empirically examines this status symbol and finds that: (1) TFUs interact with the macroeconomy differently from ordinary units, (2) when considering the...