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Local Housing Market Sentiments and Returns: Evidence from China
This paper examines the impacts of local housing sentiments on the housing price dynamics of China. With a massive second-hand transaction dataset,...
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Housing Risk and Returns in Submarkets with Spatial Dependence and Heterogeneity
Employing a recently developed panel econometric technique, first, we show that accounting for spatial dependence and heterogeneity yields more...
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Heterogeneous Effects of Mortgage Rates on Housing Returns: Evidence from an Interacted Panel VAR
This paper develops a theoretical and empirical framework to assess the heterogeneous effects of mortgage rates on housing returns when accounting...
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Hedging against inflation: housing versus equity
To which extent do equity and housing hedge against inflation? Despite the extensive literature, there is only little consensus. This paper presents...
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Spatial Market Inefficiency in Housing Market: A Spatial Quantile Regression Approach
This paper empirically tests housing market efficiency in the spatial dimension by using the spatial autoregressive conditional heteroskedastic...
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Impacts of demand and supply-side interventions on South Korea’s housing markets: a dynamic housing-CGE analysis
This paper examines the impacts of housing market policies in Korea by develo** a dynamic computable general equilibrium model integrating regional...
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The Role of Housing Mortgage Leverage in Stock Asset Pricing: Evidence from the Chinese A-share Market
This study detects the linkage between housing mortgage leverage and stock asset pricing in China’s A-share stock market. We deduce relevant asset...
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Inequality and Housing
This chapter discusses recent developments in theory and research on housing and inequality. Housing-related inequalities have become a topic of...
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The relationship between housing finance and inequality
This study analyzes the Korean housing market using an agent-based simulation from financial and societal perspectives. We initialize heterogeneous...
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Rational housing demand bubble
We provide a unified framework with demand for housing over the life cycle and financial frictions to analyze the existence and macroeconomic effects...
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Non-linear structures, chaos, and bubbles in U.S. regional housing markets
This study analyzes the nonlinear price pattern and its underlying source of nonlinearity for U.S. housing markets along with the plausible...
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High-Frequency Contagion between Aggregate and Regional Housing Markets of the United States with Financial Assets: Evidence from Multichannel Tests
This study examined contagion involving the aggregate and regional housing markets of the United States (US) with other asset markets using...
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Volatility in U.S. Housing Sector and the REIT Equity Return
This study examines how housing sector volatilities affect real estate investment trust (REIT) equity return in the United States. I argue that...
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Assessing Housing Market Crashes over the Past 150 years
We assess the predictability of housing market crashes in 18 countries over the years 1870–2020. We find that the rent-to-price ratio is a leading...
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Forecasting returns instead of prices exacerbates financial bubbles
Expectations of future returns are pivotal for investors’ trading decisions, and are therefore an important determinant of the evolution of actual...
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Housing, Neighborhoods, and Inequality
This chapter provides an up-to-date review of the literature on housing, inequality, and neighborhoods while highlighting their many intersections....
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Politics, Financial Regulation and Housing Bubbles
Recent housing bubbles in OECD countries have been accompanied by large-scale household debt buildups and rising homeownership rates, and have...
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Optimal Portfolios for Large Investors in Housing Markets Under Stress Scenarios: A Worst-Case Approach
The study focuses on constructing a mathematical housing market threatened by a major catastrophic event or crash. It incorporates the worst-case...
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Working from home, wages, housing prices, and welfare
This paper studies the effects of working from home (WFH) on wages, housing prices, utilities and welfare in a simple model. The model consists of...
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The Effect of the Countercyclical Capital Buffer on the Stability of the Housing Market
After the great turmoil of the latest financial crisis, the criticism of the regulatory frameworks became increasingly stronger. The rules that banks...
