This research investigates the relationship between housing wealth and residential satisfaction. Using household panel survey data from UK, we find that individuals’ asymmetric responses to changes in distribution, is, loss aversion experienced by worse-off group, could offset gain an increase at aggregate level. Consequently, growth does not necessarily improve satisfaction for society as a wh...

This article studies house-level real estate wealth distribution changes nearby a major interstate highway, comparing values before the announcement of highway’s construction (1940) with those during and shortly after period (1961-74). We also develop Lorenz curves to examine housing among various demographic groups homeowners. 

I investigate the mechanisms through which idiosyncratic investment risk generates a fat tail of the wealth distribution. I set up a continuous time OLG model with a bequest motive and portfolio selection to show that idiosyncratic investment risk generates a Pareto tail in the wealth distribution. I calibrate my model to the U.S. economy and show that the wealth distribution in the simulated e...