Price Elasticities Of Housing Supply
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Price Elasticities Of Housing Supply
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Author : C. Peter Rydell
language : en
Publisher:
Release Date : 1982
Price Elasticities Of Housing Supply written by C. Peter Rydell and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1982 with Business & Economics categories.
Analyzes the price elasticity of the supply of rental housing services, defined as the percentage increase in supply associated with a one percent increase in price. The purpose of the report is to predict the price changes associated with supply responses to shifts in demand. Section II analyzes each component of supply response separately. It presents price elasticities for the repair, inventory, and occupancy responses to demand shifts. It reviews the literature on all three and offers new estimates for the second and third (the estimates are based on the analysis of Annual Housing Survey data from the U.S. Census Bureau reported in Appendix B). Section III combines the three individual supply elasticities into a composite elasticity. It accomplishes the integration using a model of housing-market responses to demand shifts presented in Appendix C. The model was built during the Housing Assistance Supply Experiment to explain the housing market's response to demand shifts caused by an experimental housing allowance program.
Price Elasticities Of Housing Supply Housing Assistance Supply Experiment
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Author : Rand Corporation
language : en
Publisher:
Release Date :
Price Elasticities Of Housing Supply Housing Assistance Supply Experiment written by Rand Corporation and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on with categories.
Interest Rate Elasticity Of Residential Housing Prices
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Author : Mr.Martin Cihak
language : en
Publisher: International Monetary Fund
Release Date : 2008-10-01
Interest Rate Elasticity Of Residential Housing Prices written by Mr.Martin Cihak and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008-10-01 with Business & Economics categories.
We examine the interest rate elasticity of housing prices, advancingthe empirical literature in two directions. First, we take a commonly used cross-country panel dataset and evaluate the housing price equation using a consistent estimator in the presence of endogenous explanatory variables and a lagged dependent variable. Second, we carry-out a novel analysis of determinants of residential housing prices in a cross-section of countries. Our results show that the short-term interest rate, and hence monetary policy, has a sizable impact on residential housing prices.
The Price Elasticity Of The Long Run Supply Of New Housing Construction
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Author : James R. Follain
language : en
Publisher:
Release Date : 1979
The Price Elasticity Of The Long Run Supply Of New Housing Construction written by James R. Follain and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1979 with Housing categories.
A Non Homothetic Disaggregated Model Of Housing Supply
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Author : John Couch
language : en
Publisher:
Release Date : 1982
A Non Homothetic Disaggregated Model Of Housing Supply written by John Couch and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1982 with Housing categories.
The Housing Supply Channel Of Monetary Policy
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Author : Bruno Albuquerque
language : en
Publisher: International Monetary Fund
Release Date : 2024-02-02
The Housing Supply Channel Of Monetary Policy written by Bruno Albuquerque and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-02-02 with Business & Economics categories.
We study the role of regional housing markets in the transmission of US monetary policy. Using a FAVAR model over 1999q1–2019q4, we find sizeable heterogeneity in the responses of US states to a contractionary monetary policy shock. Part of this regional variation is due to differences in housing supply elasticities, household debt overhang, and housing wealth (volatility). Our analysis indicates that house prices and consumption respond more in supply-inelastic states and in states with large household debt imbalances, where negative housing wealth effects bite more strongly and borrowing constraints become more binding. Moreover, financial stability risks increase sharply in these areas as mortgage delinquencies and foreclosures surge, worsening banks’ balance sheets. Finally, monetary policy may have a stronger effect on housing tenure decisions in supply-inelastic states, where the homeownership rate and price-to-rent ratios decline by more. Our findings stress the importance of regional housing supply conditions in assessing the macrofinancial effects of rising interest rates.
Hot Property
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Author : Rob Nijskens
language : en
Publisher: Springer
Release Date : 2019-06-14
Hot Property written by Rob Nijskens and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-06-14 with Business & Economics categories.
This open access book discusses booming housing markets in cities around the globe, and the resulting challenges for policymakers and central banks. Cities are booming everywhere, leading to a growing demand for urban housing. In many cities this demand is out-pacing supply, which causes house prices to soar and increases the pressure on rental markets. These developments are posing major challenges for policymakers, central banks and other authorities responsible for ensuring financial stability, and economic well-being in general.This volume collects views from high-level policymakers and researchers, providing essential insights into these challenges, their impact on society, the economy and financial stability, and possible policy responses. The respective chapters address issues such as the popularity of cities, the question of a credit-fueled housing bubble, the role of housing supply frictions and potential policy solutions. Given its scope, the book offers a revealing read and valuable guide for everyone involved in practical policymaking for housing markets, mortgage credit and financial stability.
The Price Responsiveness Of Housing Supply In Oecd Countries
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Author : Aida Caldera Sánchez
language : en
Publisher:
Release Date : 2011
The Price Responsiveness Of Housing Supply In Oecd Countries written by Aida Caldera Sánchez and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011 with categories.
The Economics Of Housing Markets
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Author : Richard F. Muth
language : en
Publisher: Psychology Press
Release Date : 2001
The Economics Of Housing Markets written by Richard F. Muth and has been published by Psychology Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001 with Business & Economics categories.
A state of the art overview of theoretical and empirical aspects of housing market research.
Housing Demand Regional House Prices And Consumption
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Author : Carl J. Liebersohn
language : en
Publisher:
Release Date : 2018
Housing Demand Regional House Prices And Consumption written by Carl J. Liebersohn and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018 with categories.
This paper provides a new explanation for regional variation in the 2000-2012 housing and consumption boom and bust. Cities with a greater share of growing industries experienced larger housing demand shocks, larger house price increases from 2001-2006 and greater price declines from 2006-2011. Consistent with theory, price effects were stronger in housing-supply inelastic cities. City-level differences in housing demand are also correlated with supply elasticity. Controlling for industry, I estimate a durables consumption-house price elasticity of 0.08 from 2001-2006, 60% smaller than estimates without the controls. Post- 2006, the estimated elasticity is 0.19 and housing prices rather than local conditions explain consumption changes.