This paper is superseded by WP 15-15 <p>The authors construct a quantitative equilibrium model of the housing market in which an unanticipated increase in the supply of housing triggers default mortgages via its effect on house prices. The decline in house prices creates an incentive to increase...</p>

Presented by Charles I. Plosser, President and Chief Executive Officer, Federal Reserve Bank of Philadelphia, presented at the University of Rochester, William E. Simon Graduate School of Business Administration , Economic Outlook Seminar, Hyatt Regency Rochester, November 27, 2007

Presented by Charles I. Plosser, President and Chief Executive Officer, Federal Reserve Bank of Philadelphia, European Economics and Financial Centre, Distinguished Speakers Series, July 11, 2007.

Presented by Charles I. Plosser, President and Chief Executive Officer, Federal Reserve Bank of Philadelphia, to the Greater Philadelphia Chamber of Commerce, February 7, 2007

Presented by Charles I. Plosser, President and Chief Executive Officer, Federal Reserve Bank of Philadelphia, William E. Simon Graduate School of Business, University of Rochester, 30th Annual Economic Outlook Seminar, December 2, 2008

Reverse mortgage loans (RMLs) allow older homeowners to borrow against housing wealth without moving. In spite of growth in this market, only 2.1% of eligible homeowners had RMLs in 2011. In this paper, we analyze reverse mortgages in a life-cycle model of retirement, calibrated to age-asset...

This paper incorporates home production into a dynamic general equilibrium model of overlapping generations with endogenous retirement to study Social Security reforms. As such, the model differentiates both consumption goods and labor effort according to their respective roles in home...

Supersedes Working Paper 13-27. Reverse mortgage loans (RMLs) allow older homeowners to borrow against housing wealth without moving. Despite growth in this market, only 2.1% of eligible homeowners had RMLs in 2011. In this paper, the authors analyze reverse mortgages in a calibrated life-cycle...

This paper presents the results of a Philadelphia Fed study that analyzes whether the community development efforts of a nonprofit in Camden, NJ, have an effect on local neighborhoods.

This paper quantitatively investigates the optimal capital income taxation in the general equilibrium overlapping generations model, which incorporates characteristics of housing and the U.S. preferential tax treatment for owner-occupied housing. Housing tax policy is found to have a substantial...