Showing 1 - 10 of 55
The rise of inflation in 2021 and 2022 surprised many macroeconomists who ignored the earlier surge in money growth because past instability in the demand for simple-sum monetary aggregates had made these aggregates unreliable indicators. We find that the demand for more theoretically-based...
Persistent link: https://www.econbiz.de/10014322692
After remaining close to 1 US Dollar since its inception in November 2020, the algorithmic stablecoin UST crashed in the two weeks of May 9th to May 15th, 2022, leading to a price collapse of the underlying LUNA token and the erasure of more than 50 Billion U.S. Dollar or 90% in market value
Persistent link: https://www.econbiz.de/10013334473
Bank-created money, shadow-bank money, and Treasury bonds all satisfy investors' demand for a liquid transaction medium and safe store of value. We measure the quantity of these three forms of liquidity and their corresponding liquidity premium over a sample from 1934 to 2016. We empirically...
Persistent link: https://www.econbiz.de/10013210079
According to ECB (2023) and European Systemic Risk Board (2022), Swedish owner-occupied housing (OOH) was overvalued by …The PTI ratio disregards mortgage rates and other housing costs and lacks scientific support. According to a large … housing literature, it is not the purchase price but the user cost that is the appropriate measure of the cost of living in …
Persistent link: https://www.econbiz.de/10014436993
water to study the impact of information about unregulated contaminants on housing prices. Using residential property …
Persistent link: https://www.econbiz.de/10014372488
Does the ability to generate verifiable digital financial histories, with customers having data-sharing rights, improve credit access? We answer this using India's launch of an Open-Banking based public digital payment infrastructure (UPI). Using rarely available data on the universe of consumer...
Persistent link: https://www.econbiz.de/10015171662
: oversupply of office in a hybrid-and-remote-work world, shortage of housing, and excessive greenhouse gas emissions. We propose a … housing. We highlight the role that the Inflation Reduction Act could play …
Persistent link: https://www.econbiz.de/10014337764
We develop a dynamic urban model combining features of quantitative spatial and macro-housing models. It includes … multiple locations, forward-looking households, commuting, costly migration, uninsurable income risk, housing tenure choice …, and housing frictions. The model operates in continuous time, with shocks and choices occurring at discrete intervals …
Persistent link: https://www.econbiz.de/10015326505
This paper examines how homeownership status shapes attention to inflation and its impact on durable consumption. Using randomized controlled trials on U.S. households (2021-2023), we document systematic heterogeneity in responses to inflation-related information. Homeowners exhibit greater...
Persistent link: https://www.econbiz.de/10015361471
The standard view of housing markets holds that the flexibility of local housing supply-shaped by factors like … geography and regulation-strongly affects the response of house prices, house quantities and population to rising housing demand …. However, from 2000 to 2020, we find that higher income growth predicts the same growth in house prices, housing quantity, and …
Persistent link: https://www.econbiz.de/10015361452