Since the instability of housing markets may be quite harmful for the real economy, we explore whether public housing construction programs may tame housing market fluctuations. As a workhorse, we use a behavioral stock-flow housing market model in which the complex interplay between speculative...

Since the instability of housing markets may be quite harmful for the real economy, we explore whether public housing construction programs may tame housing market fluctuations. As a workhorse, we use a behavioral stock-flow housing market model in which the complex interplay between speculative...

This paper introduces an innovative test of search and matching models using the exogenous variation available in experimental data. We take an off-the-shelf search model and calibrate it to data on the control group from a randomized social experiment. We then simulate a program group from a...

This paper introduces an innovative test of search and matching models using the exogenous variation available in experimental data. We take an off-the-shelf search model and calibrate it to data on the control group from a randomized social experiment. We then simulate a program group from a...

The fundamental problem of external validity is not to generalize from one experiment, so much as to experimentally test generalizable theories. That is, theories that explain the systematic variation of causal effects across contexts. Here we show how the graphical language of causal diagrams...

The fundamental problem of external validity is not to generalize from one experiment, so much as to experimentally test generalizable theories. That is, theories that explain the systematic variation of causal effects across contexts. Here we show how th