model, and the fact that all the application models have very close results shows the success of predictability. This is an …

varying uncertainty (i.e. risk shocks) in the technology shocks that affect housing production. The analysis demonstrates that … risk shocks to the housing production sector are a quantitatively important impulse mechanism for the business cycle. Also … countercyclical behavior of risk premia on loans to the housing sector. -- Agency costs ; credit channel ; time-varying uncertainty …

I show that individuals whose unemployment risk tends to increase more when local home prices fall optimally invest …

This paper studies idiosyncratic risk at the level of individual house resales. It is commonly assumed that the … idiosyncratic price component follows a random walk. I show that housing market data reject this model, and that idiosyncratic risk … to mortgage credit, I show that a contraction in local credit availability increases idiosyncratic risk. Finally, I show …

's awareness of risk not only in directly affected areas but also in unaffected areas as well. This study focuses on the … relationship between earthquake risk and real estate prices in unaffected areas before and after the earthquake in order to explore … how large-scale natural disasters influence people's perception toward disaster risk. We use large-scale property …