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Persistent link: https://www.econbiz.de/10011343591
A capital influx into local housing markets would be expected to increase house prices, but the spillover effect onto rental prices is theoretically ambiguous. I estimate both price impacts in U.S. residential housing markets using data from a boom in real estate purchases by buyers from China,...
Persistent link: https://www.econbiz.de/10013213216
If individuals have self-control problems, they may take up commitment contracts that restrict their spending. We experimentally investigate how contract design affects the demand for commitment contracts. Each participant divides money between a liquid account, which permits unrestricted...
Persistent link: https://www.econbiz.de/10013017088
If individuals have self-control problems, they may take up commitment contracts that restrict their spending. We experimentally investigate how contract design affects the demand for commitment contracts. Each participant divides money between a liquid account, which permits unrestricted...
Persistent link: https://www.econbiz.de/10012457194
Persistent link: https://www.econbiz.de/10012584074
Wealth is distributed more unevenly than income, and one contributing factor might be that richer households earn higher portfolio returns. I uncover one channel that causes portfolio returns to be increasing in wealth: Poorer households consistently buy risky assets in booms—when expected...
Persistent link: https://www.econbiz.de/10013299896
Low-income and Black households are less likely to visit bank branches than high-income and White households, despite the former two groups appearing to rely more on branches as means of bank participation. We assess whether unequal branch access can explain that disparity. We propose a measure...
Persistent link: https://www.econbiz.de/10014249856
We estimate intergenerational elasticities (IGE) of housing consumption and income in the US. Using surnames to link 1940 and 2015, we estimate a one-generation housing-consumption IGE of 0.73, higher than that of income at 0.52. Housing consumption IGE is higher for White compared to Black...
Persistent link: https://www.econbiz.de/10015073279
Low-income and Black households are less likely to own bank accounts and visit bank branches than high-income and White households. We assess whether unequal bank access can explain why. We propose a novel measure of bank access based on the locations of bank branches and consumer trips to those...
Persistent link: https://www.econbiz.de/10014254705
Low-income and Black households are less likely to visit bank branches than high-income and White households, despite the former two groups appearing to rely more on branches as means of bank participation. We assess whether unequal branch access can explain that disparity. We propose a measure...
Persistent link: https://www.econbiz.de/10014351079