The UK experienced a major residential real estate boom-bust cycle from the mid-Eighties to the mid-Nineties, accompanied by unprecedented shifts in the owner occupancy rate of young households. Previous empirical analyses have pointed toward income changes and financial deregulation as the...

This paper presents a first step towards a new theory of housing market fluctuations. We develop a life-cycle model where agents face credit constraints and their housing consumption is restricted to a discrete set of possibilities. The market interaction of young credit constrained agents...

This report was prepared for the Centre for Housing Research Aotearoa New Zealand (CHRANZ). The aim of this study is to identify a set of housing research projects addressing two related topics. First, the impact of economic, social and environmental changes on housing in New Zealand's...

Despite the pervasive nature of land use planning and land use regulation, evaluation of the costs and benefits of these policies has received only limited attention. This paper presents an empirical methodology, based on clear microeconomic foundations, for the evaluation of benefits and costs...

This chapter analyzes the effects of an aging population on individual skill choices and the production structure by means of a dynamic general equilibrium model with overlapping generations and probabilistic aging. The model allows for capital-skill complementarity, which strongly affects the...

On 28 August 1998 the Treasurer referred the impact of competition policy reforms on rural an regional Australia for inquiry and report within 12 months of receiving the reference. The Commission is to assess the impact (both transitional and ongoing) of the competition policy and related...