-cycle and socio-economic characteristics and housing market conditions. This paper extends the analysis of immigrant housing … tenure choice by explicitly accounting for ethnic identity as a potential influence on the homeownership decision, using a … suggests that immigrants with a stronger commitment to the host country are more likely to achieve homeownership for a given …

retirement schemes into less generous and actuarially fair capital funded schemes. The starting dates of the transitional … the policy reform on early retirement behaviour. We use a large administrative dataset, the Dutch Income Panel 1989 …-2000, to estimate hazard rate models for early retirement. We conclude that the policy reform induced workers to postpone early …

Recent models with liquidity constraints and impatience emphasize that consumers use savings to buffer income …

A reduction in inflation can fuel run-ups in housing prices if people suffer from money illusion. For example …

illiquid wealth. In the case of household portfolios, the most important illiquid asset is housing: if housing stock … periods of no adjustment that are affected by housing price risk (through a hedge term). When the housing stock is not … adjusted, we argue that tests for portfolio efficiency of financial assets must then be run conditionally upon housing wealth …

heterogeneous, infinitely lived households and competitive housing and mortgage markets. Households have the option to default on … equilibrium mortgage origination and increases aggregate welfare, but has little effect on foreclosure rates and housing …