Title of article
House pricesandrisksharing
Author/Authors
Dmytro Hryshko، نويسنده ,
Issue Information
روزنامه با شماره پیاپی سال 2010
Pages
13
From page
975
To page
987
Abstract
HomeownersinthePanelStudyofIncomeDynamicsareabletomaintainahighlevelof
consumptionfollowingjobloss(ordisability)inperiodsofrisinglocalhouseprices
while theconsumptiondropforhomeownerswholosetheirjobintimesoflowerhouse
pricesissubstantial.Theseresultsareconsistentwithhomeownersbeingabletoaccess
wealth gainswhenhousingappreciatesaswitnessedbytheirabilitytosmooth
consumptionmorethanrenters.Acalibratedmodelofendogenoushomeownershipand
consumptionisabletoreproducethepatternsinthedataquitewellandprovidesan
interpretationoftheempiricalresults
Journal title
Journal of Monetary Economics
Serial Year
2010
Journal title
Journal of Monetary Economics
Record number
846442
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