Essays on Housing and Macroeconomics - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Essays on Housing and Macroeconomics write by Wonmun Shin. This book was released on 2020. Essays on Housing and Macroeconomics available in PDF, EPUB and Kindle. Therefore, this chapter argues that higher house price volatility in emerging countries leads to their excess consumption volatility.
Essays in Macroeconomics and Housing
Essays in Macroeconomics and Housing - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Essays in Macroeconomics and Housing write by Joao Bernardo Neto Aurelio Duarte. This book was released on 2016. Essays in Macroeconomics and Housing available in PDF, EPUB and Kindle.
Essays on Housing and Macroeconomics
Essays on Housing and Macroeconomics - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Essays on Housing and Macroeconomics write by Guozhong Zhu. This book was released on 2009. Essays on Housing and Macroeconomics available in PDF, EPUB and Kindle. This dissertation studies households' housing decision in the presence of income risks, and its implication on within-cohort income/consumption inequality and the nature of income risks facing households. It is composed of three chapters. The first chapter presents evidence from Panel Study of Income Dynamics (PSID) and Consumer Expenditure Survey (PSID) that housing consumption and housing investment are negatively affected by income risks. Within a household portfolio choice model, the negative effect can be attributed to the illiquidity of housing investment and the positive correlation between house price and income. The second chapter provides empirical evidence that the secular rise of income and consumption inequalities in the United States is age-dependent. It is more significant among younger households. With this feature, biasedness arises from the traditional methodology of decomposing inequality into age effect, year effect and cohort effect. A simple but effective remedy for the problem is proposed. The third chapter of the dissertation studies the age-profile of within-cohort income/consumption inequality, using the methodology proposed in the second chapter. It documents the age-profile of housing consumption inequality which is almost flat. This stands in contrast to the well-documented fact that within-cohort nonhousing consumption inequality rises with age, which has been argued to be evidence for persistent, uninsurable income shocks to households. This argument is challenged by the finding that housing consumption inequality has a flat age-profile. Within the framework of standard lifecycle model, the coexistence of rising nonhousing consumption inequality and flat housing consumption inequality constitutes a puzzle. A potential resolution lies in the negative effect of income uncertainty on housing decision which diminishes with age, as shown in the first chapter of the dissertation.
Essays on the Macroeconomics of Housing Markets
Essays on the Macroeconomics of Housing Markets - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Essays on the Macroeconomics of Housing Markets write by Boaz Abramson. This book was released on 2022. Essays on the Macroeconomics of Housing Markets available in PDF, EPUB and Kindle. This dissertation studies the macroeconomic implications of government policies and house- hold decisions for housing market outcomes. The first chapter, "The Welfare Effects of Eviction and Homelessness Policies", studies the effects of various rental market policies that address evictions and homelessness. I find that "Right-to-Counsel" drives up rents so much that homelessness increases, and welfare is dampened. While lawyers make it harder to evict delinquent tenants, they are unable to prevent evictions because defaults on rent are driven by persistent shocks to income that cannot easily be smoothed across time. In contrast, rental assistance lowers tenants default risk and as a result reduces both homelessness and evictions and increases welfare. the second chapter, "Self-Assessed Financial Literacy in Housing Markets", studies the role of financial knowledge in home- ownership decisions. I show that households who self-assess them- selves to be more financially literate are more likely to own a house and take a more levered position on their house. I find that this is because households with higher levels of self-assessed financial knowledge have access to more accommodating mortgage terms and better risk-return tradeoffs in the housing market.
Essays in Macroeconomics
Essays in Macroeconomics - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Essays in Macroeconomics write by Hamza Polattimur. This book was released on 2016. Essays in Macroeconomics available in PDF, EPUB and Kindle.
