This paper provides new evidence on the housing wealth effect on consumption using household panel data. A key advantage in studying the Chinese housing market is the absence of the collateral channel, as households are prohibited from withdrawing housing equity. The results show that for every...

We analyze the impact of sound barriers on residential satisfaction and well-being manifested in housing prices in Singapore. Using the difference-in-difference approach, we demonstrate a significant price effect of sound barriers in high-rise residential environments. There was a 0.6% price...

In this paper, we empirically examine differences in subprime borrower default decisions by Census tract characteristics in order to clarify how the subprime foreclosure crisis played out in minority areas. An innovation in our modeling approach is that we do not constrain the impact of...