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The Impact of Foreclosure on Housing Prices

Siebert, Ralph - CESifo - 2015

The aim of the study is to explain if the foreclosure effect on prices is explained by a lower quality of foreclosed … estimate the impact of foreclosure on home prices in Florida and Indiana from 2000 to 2008. We employ a model of housing demand …-specific quality explains the vast majority of the foreclosure effects on house prices. Our results also show that foreclosed homes in …

Persistent link: https://www.econbiz.de/10011163066

Using Bankruptcy to Reduce Foreclosures: Does Strip-down of Mortgages Affect the Supply of Mortgage Credit?

Li, Wenli; Tewari, Ishani; White, Michelle - CESifo - 2014

We assess the credit market impact of allowing mortgage “strip-down” as a foreclosure-prevention measure, where strip … effective foreclosure-prevention program, because it would have only small and transient effects on the supply of mortgage loans. …

Persistent link: https://www.econbiz.de/10010877889

When Backward Integration by a Dominant Firm Improves Welfare

Linnemer, Laurent - CESifo - 2002

This paper studies the welfare consequences of a vertical merger that raises rivals‘ costs when downstream competition is à la Cournot between firms with constant asymmetric marginal costs. The main result is that such a vertical merger can nevertheless improve welfare if it involves a...

Persistent link: https://www.econbiz.de/10005051572

Homeownership and Entrepreneurship: The Role of Mortgage Debt and Commitment

Bracke, Philippe; Hilber, Christian; Silva, Olmo - CESifo - 2014

We study the link between homeownership, mortgage debt, and entrepreneurship using a model of occupational choice and …

Persistent link: https://www.econbiz.de/10010948829

Explaining the Spatial Variation in Homeownership Rates: Results for German Regions

Lerbs, Oliver; Oberst, Christian - CESifo - 2011

homeownership rates. Among the explanatory variables, the analysis includes important regional housing market indicators as well as … homeownership rates vary so substantially across the country. The results indicate significant neighborhood effects for several …

Persistent link: https://www.econbiz.de/10008872209

Private Debt Overhang and the Government Spending Multiplier: Evidence for the United States

Bernardini, Marco; Peersman, Gert - CESifo - 2015

Using state-dependent local projection methods and historical U.S. data, we find that government spending multipliers are considerably larger in periods of private debt overhang. In particular, we find significant crowding-out of personal consumption and investment in low-debt states, resulting...

Persistent link: https://www.econbiz.de/10011212082

Education, Unemployment and Migration

Eggert, Wolfgang; Krieger, Tim; Meier, Volker - CESifo - 2007

This paper studies a two-region model in which unemployment, education decisions and interregional migration are endogenous. The poorer region exhibits both lower wages and higher unemployment rates, and migrants to the richer region are disproportionally skilled. The brain drain from the poor...

Persistent link: https://www.econbiz.de/10005405804

Boon or Bane? Others' Unemployment, Well-being and Job Insecurity

Clark, Andrew; Knabe, Andreas; Rätzel, Steffen - CESifo - 2008

The social norm of unemployment suggests that aggregate unemployment reduces the well-being of the employed, but has a far smaller effect on the unemployed. We use German panel data to reproduce this standard result, but then suggest that the appropriate distinction may not be between employment...

Persistent link: https://www.econbiz.de/10005406142

Disposal of Petroleum Installations - Major Policy Issues

Osmundsen, Petter; Tveterås, Ragnar - CESifo - 2000

Following the Brent Spar controversy, the OSPAR countries reached a unanimous agreement in 1998 for the future rules for disposal of petroleum installations. The vast majority of existing offshore installations will be re-used or returned to shore for recycling or disposal. For installations...

Persistent link: https://www.econbiz.de/10005406247

Pensions and Fertility Incentives

Fenge, Robert; Meier, Volker - CESifo - 2003

This paper discusses the efficiency of a pay-as-you-go pension reform by introducing a child benefit in an endogenous fertility setting. In the model of a small open economy, higher fertility is associated with a reduction of lifetime labor supply. The optimum share of fertility-related pensions...

Persistent link: https://www.econbiz.de/10005406380