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more dispersed than rent-based estimates, likely because of the recent housing bubble and because housing values often …
Persistent link: https://www.econbiz.de/10009568788
more dispersed than rent-based estimates, likely because of the recent housing bubble and because housing values often …
Persistent link: https://www.econbiz.de/10010287640
Persistent link: https://www.econbiz.de/10010203671
We develop a dynamic multi-region model, with fluctuating regional house prices, where an owner-occupied household's location choice depends on its current wealth and its current type and involves both consumption and investment considerations. The relative strength of the consumption motive and...
Persistent link: https://www.econbiz.de/10013112455
Empirical evidence suggests that local jurisdictions are internally more heterogeneous than standard sorting models predict. We develop a dynamic multi-region model, with fluctuating regional house prices, where an owner-occupying household's location choice depends on its current wealth and its...
Persistent link: https://www.econbiz.de/10013158359
model incorporates two key mechanisms that link welfare to local economic conditions: migration costs and homeownership … substantially across the age and wealth distribution. I find that homeownership plays a central role in spatial redistribution: in … an otherwise similar model without homeownership, the average welfare effect of the same shock is just 0.19%. This is …
Persistent link: https://www.econbiz.de/10014355548
This paper extends existing research on regional quality of life in Germany by newly estimating the role of region-specific (dis-)amenities in the determination of regional housing rents and wages. Different from previous studies, the empirical analysis draws on functional labor market areas...
Persistent link: https://www.econbiz.de/10010367141
Since 1980, college graduates have increasingly sorted into the downtowns of U.S. cities. This led to urban revival, a process that involves fast growth in income and housing prices downtown. Motivated by the observation that young childless households concentrate downtown, we link urban revival...
Persistent link: https://www.econbiz.de/10014553106
This paper extends existing research on regional quality of life in Germany by newly estimating the role of region-specific (dis-)amenities in the determination of regional housing rents and wages. Different from previous studies, the empirical analysis draws on functional labor market areas...
Persistent link: https://www.econbiz.de/10010369573
This paper extends existing research on regional quality of life in Germany by newly estimating the role of region-specific (dis-)amenities in the determination of regional housing rents and wages. Different from previous studies, the empirical analysis draws on functional labor market areas...
Persistent link: https://www.econbiz.de/10010957045