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The Effects Of Price Uncertainty On Home Purchase Decisions Over The Life Cycle
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Book Synopsis The Effects of Price Uncertainty on Home Purchase Decisions Over the Life-Cycle by : Lu Han
Download or read book The Effects of Price Uncertainty on Home Purchase Decisions Over the Life-Cycle written by Lu Han and published by . This book was released on 2008 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper presents a life-cycle model of housing demand for repeated home purchase market with uncertain house prices and lumpy transaction costs. By extending the (S,s) methodology to a non-stationary discrete time framework with multivariate stochastic price processes, I derive optimal home purchase decision rules and the housing risk premium. This allows me to characterize a self-hedging mechanism in an incomplete market: households use earlier accumulated housing wealth to hedge against the future housing cost risk. As a result, the direction of the effects of price uncertainty on housing demand depends critically on households' future housing consumption plans. When price uncertainty increases, households consume (and thereby invest in) less housing if they plan to realize the housing wealth gain. However, they will instead take bigger housing positions if they plan to move to a bigger home in a correlated housing market in the future.
Book Synopsis Effects of Uncertainty on Home Purchase Decisions Over the Life Cycle by : Lu Han
Download or read book Effects of Uncertainty on Home Purchase Decisions Over the Life Cycle written by Lu Han and published by . This book was released on 2005 with total page 278 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Effect of Uncertainty on Home Purchase Decisions Over the Life Cycle by : Lu Han
Download or read book Effect of Uncertainty on Home Purchase Decisions Over the Life Cycle written by Lu Han and published by . This book was released on 2007 with total page 124 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Insights in the Economics of Aging by : David A. Wise
Download or read book Insights in the Economics of Aging written by David A. Wise and published by University of Chicago Press. This book was released on 2017-03-20 with total page 399 pages. Available in PDF, EPUB and Kindle. Book excerpt: The fraction of the population over age sixty-five in many developed countries is projected to rise, in some cases sharply, in coming decades. This has drawn growing interest to research on the health and economic circumstances of individuals as they age. Many individuals are retiring from paid work, yet they are living longer than ever. Their well-being is shaped by their past decisions such as their saving behavior, as well as by current and future economic conditions, health status, medical innovations, and a rapidly evolving landscape of policy incentives and supports. The contributions to Insights in the Economics of Aging uncover how financial, physical, and emotional well-being are integrally related. The authors consider the interactions between financial circumstances in later life, such as household savings and home ownership, physical circumstances such as health and disability, and emotional well-being, including happiness and mental health.
Book Synopsis Energy Abstracts for Policy Analysis by :
Download or read book Energy Abstracts for Policy Analysis written by and published by . This book was released on 1985 with total page 708 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Handbook of Regional and Urban Economics, vol. 5B by : Gilles Duranton
Download or read book Handbook of Regional and Urban Economics, vol. 5B written by Gilles Duranton and published by Elsevier. This book was released on 2015-05-15 with total page 967 pages. Available in PDF, EPUB and Kindle. Book excerpt: Developments in methodologies, agglomeration, and a range of applied issues have characterized recent advances in regional and urban studies. Volume 5 concentrates on these developments while treating traditional subjects such as housing, the costs and benefits of cities, and policy issues beyond regional inequalities. Contributors make a habit of combining theory and empirics in each chapter, guiding research amid a trend in applied economics towards structural and quasi-experimental approaches. Clearly distinguished from the New Economic Geography covered by Volume 4, these articles feature an international approach that positions recent advances within the discipline of economics and society at large. Editors are recognized as leaders and can attract an international list of contributors Regional and urban studies interest economists in many subdisciplines, such as labor, development, and public economics Table of contents combines theoretical and applied subjects, ensuring broad appeal to readers
Book Synopsis Household Housing Decisions Under Uncertainty by : Zheng Duan
Download or read book Household Housing Decisions Under Uncertainty written by Zheng Duan and published by . This book was released on 2020 with total page 111 pages. Available in PDF, EPUB and Kindle. Book excerpt: Real estate is the largest component in most American households' portfolios. Prior studies have shown both negative and positive relations between uncertainty and households' housing decisions. This dissertation makes an effort to reconcile the differences in the literature through theoretical and empirical work that links uncertainty and households' housing decisions from a real options perspective. In the first chapter, I provide novel empirical evidence to show the importance of uncertainty in explaining households' several housing decisions - housing consumption, housing investment and mortgage default. After controlling for unobserved heterogeneity, I find that the effect of uncertainty has opposite signs on housing purchase decisions depending on the type of purchase (primary residence or investment property). I also find that uncertainty contributes to households' default decisions beyond other factors that have previously been identified in the literature. In addition to identifying the sign of the effect of uncertainty, I show that the uncertainty effect varies depending on the household's risk aversion, which is consistent with the predictions from a theoretical real options perspective. The second chapter introduces a real options type of model to explain from a theoretical perspective why the effect of uncertainty on households' home purchase decisions can depend on the type of a home purchase. Based on a real options approach introduced in Miao and Wang (2007) the model captures the dual nature of housing as a consumption good and an investment vehicle. It explains the uncertainty effect on the optimal timing of home purchase decisions either as a consumption good or as an investment. Unlike previous studies that rely on risk-neutral assumptions in the valuations of real options in explaining uncertainty effect on households' decisions, the model recognizes idiosyncratic risks and households' precautionary saving motives which allow the effect of uncertainty to vary across different degrees of risk-aversion. The third chapter introduces a real options type of model to explain the effect of uncertainty on households' default decisions. Unlike previous studies that focus on the link between uncertainty and investment decisions,the model shows the usefulness of a real options approach in explaining households' default decisions. The model predicts a positive relation between uncertainty and households' default decisions, which is consistent with the empirical results from the first chapter.
Book Synopsis Handbook of Regional and Urban Economics by : Gilles Duranton
Download or read book Handbook of Regional and Urban Economics written by Gilles Duranton and published by Elsevier. This book was released on 2015-06-29 with total page 2064 pages. Available in PDF, EPUB and Kindle. Book excerpt: Developments in methodologies, agglomeration, and a range of applied issues have characterized recent advances in regional and urban studies. Volume 5 concentrates on these developments while treating traditional subjects such as housing, the costs and benefits of cities, and policy issues beyond regional inequalities. Contributors make a habit of combining theory and empirics in each chapter, guiding research amid a trend in applied economics towards structural and quasi-experimental approaches. Clearly distinguished from the New Economic Geography covered by Volume 4, these articles feature an international approach that positions recent advances within the discipline of economics and society at large. Emphasizes advances in applied econometrics and the blurring of "within" and "between" cities Promotes the integration of theory and empirics in most chapters Presents new research on housing, especially in macro and international finance contexts
Book Synopsis Dimensions of Tax Design by : James A. Mirrlees
Download or read book Dimensions of Tax Design written by James A. Mirrlees and published by Oxford University Press. This book was released on 2010-04-29 with total page 1360 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Review was chaired by Nobel Laureate Professor Sir James Mirrlees of the University of Cambridge and the Chinese University of Hong Kong. --
Book Synopsis Alternative Mortgage Instruments Research Study by : United States. Federal Home Loan Bank Board
Download or read book Alternative Mortgage Instruments Research Study written by United States. Federal Home Loan Bank Board and published by . This book was released on 1977 with total page 572 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Current Abstracts written by and published by . This book was released on 1996-03 with total page 118 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Energy Research Abstracts written by and published by . This book was released on 1987 with total page 1176 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Federal Register written by and published by . This book was released on 1979-11-26 with total page 1900 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Life-cycle Analysis of Energy Systems by : Bent Sørensen
Download or read book Life-cycle Analysis of Energy Systems written by Bent Sørensen and published by Royal Society of Chemistry. This book was released on 2011 with total page 347 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book describes the methodology of life-cycle analysis of new energy solutions and their applications in a climate impact context.
Book Synopsis Handbook of Macroeconomics by : John B. Taylor
Download or read book Handbook of Macroeconomics written by John B. Taylor and published by Elsevier. This book was released on 2016-11-12 with total page 2744 pages. Available in PDF, EPUB and Kindle. Book excerpt: Handbook of Macroeconomics Volumes 2A and 2B surveys major advances in macroeconomic scholarship since the publication of Volume 1 (1999), carefully distinguishing between empirical, theoretical, methodological, and policy issues, including fiscal, monetary, and regulatory policies to deal with crises, unemployment, and economic growth. As this volume shows, macroeconomics has undergone a profound change since the publication of the last volume, due in no small part to the questions thrust into the spotlight by the worldwide financial crisis of 2008. With contributions from the world’s leading macroeconomists, its reevaluation of macroeconomic scholarship and assessment of its future constitute an investment worth making. Serves a double role as a textbook for macroeconomics courses and as a gateway for students to the latest research Acts as a one-of-a-kind resource as no major collections of macroeconomic essays have been published in the last decade Builds upon Volume 1 by using its section headings to illustrate just how far macroeconomic thought has evolved
Download or read book The IPO Decision written by Jason Draho and published by Edward Elgar Publishing. This book was released on 2004-01-01 with total page 400 pages. Available in PDF, EPUB and Kindle. Book excerpt: Annotation Initial public offerings (IPOs) garnered unprecedented positive attention in the 1990s for their spectacular returns and central role in entrepreneurial activity. Subsequent revelations of unscrupulous IPO allocation and promotion practices cast a less fa.
Book Synopsis ACCA Paper P5 - Advanced Performance Management Practice and revision kit by : BPP Learning Media
Download or read book ACCA Paper P5 - Advanced Performance Management Practice and revision kit written by BPP Learning Media and published by BPP Learning Media. This book was released on 2013-01-01 with total page 601 pages. Available in PDF, EPUB and Kindle. Book excerpt: The examiner-reviewed P5 Practice and Revision Kit provides invaluable guidance on how to approach the exam and contains past ACCA exam questions for you to try. The examiner has emphasised that simply understanding the advantages and disadvantages of different performance management approaches will not be sufficient to pass the exam. You must apply specific knowledge to the scenarios in the exam questions. The questions in the Practice and Revision Kit reflect the scenario-based questions you will find on the exam.
