Suchergebnisse
Suchergebnisse:
5. Aug. 2020 · We build a model of the US economy with multiple aggregate shocks that generate fluctuations in equilibrium house prices. Through counterfactual experiments, we study the housing boom-bust around the Great Recession, with three main results. First, the main driver of movements in house prices and rents was a shift in beliefs, not a change in credit conditions. Second, the boom-bust in house ...
2. März 2020 · With “2020 hindsight,” the 2000s housing cycle is not a boom-bust but a boom-bustrebound. Using a spatial equilibrium regression in which house prices are determined by income, amenities ...
1. Sept. 2020 · The model generates housing dynamics quite similar (both in terms of the size of the changes and in the turning points) to the data from Spain, the U.K. and the U.S., which are countries representative of the housing boom and bust. Since the housing expectation is a demand shock, housing prices and quantities have a positive comovement, like in the data.
The Housing Boom and Bust: Model Meets Evidence Greg Kaplany Kurt Mitmanz Giovanni L. Violantex August 7, 2017 Abstract We build a model of the U.S. economy with multiple aggregate shocks (income, housing nance conditions, and beliefs about future housing demand) that generate uctuations in equilibrium house prices. Through a series of ...
15. Aug. 2017 · The role of housing rental markets and long-term mortgages in alleviating credit constraints is central to these findings. Second, our model suggests that the boom-bust in house prices explains half of the corresponding swings in non-durable expenditures and that the transmission mechanism is a wealth effect through household balance sheets ...
defaults during the bust attributable to prime borrowers (Albanesi, De Giorgi, Nosal, and Ploenzke, 2016); and (iii) the crucial role of young households in accounting for the dynamics of home ownership during this period (Hurst, 2017). Second, we find that that the boom and bust in house prices directly accounts for roughly
1. Mai 2020 · We study how the recent housing boom and bust affected college enrollment during the 2000s. We exploit cross-city variation in local housing booms, which improved labor market opportunities for ...
