This paper examines the relation between money and housing variables in the euro area and in the US. Our empirical model is based on a standard money demand relation which is augmented by housing market variables. In doing so, co-integrated money demand relationships can be established for both the euro area and the US. Furthermore, we find evidence for asset inflation channels, that is, liquid...

Restoring the health of the housing market is a necessary part of a broader strategy for economic recovery. There has been much discussion about the pathway forward, and the Federal Reserve has received questions and requests for our input and assistance. We have been looking at these issues and in the interest of continuing a dialogue, my staff has written a white paper, entitled "The U.S. Hou...

Ce document est un fac-similé de l'édition imprimée. Espace Populations Sociétés est mis à disposition selon les termes de la licence Creative Commons Attribution-Pas d'Utilisation Commerciale-Pas de Modification 4.0 International. Residence Status and Housing in Urban China – the Case of Beijing Housing is one of the key resources separating the haves from the have-nots in urban China. As rece...

Despite biogas is considered a renewable source of energy, the social acceptability of biogas plants is controversial due to resistance from local communities who are afraid of potential local negative externalities. This paper aim at investigating this claim using evidence from the housing market by means of a diff-in-diff model. Indeed, if households evaluate the presence of biogas plant such...

This paper aims at providing an operational framework for housing market research by means of disaggregate choice analysis. First, a concise survey of spatial choice and interaction models is presented, starting from a systematic typological approach. Then the advantages of disaggregate spatial choice models (especially probit models) are pointed out. Next, the paper presents extensively empiri...

Housing reform in urban China has introduced market mechanisms into a previously welfare-oriented housing system. Although microlevel factors such as household characteristics begin to shape housing behavior in urban China as is the case in the West, macrolevel constraints and opportunities defined by not only housing stocks and housing markets but also local government behaviors continue to be...

This study evaluates the effectiveness of geographic diversification in reducing housing investment risk. To characterize diversification potential, we estimate spatial correlation and integration among 401 U.S. metropolitan housing markets. The 2000s boom brought a marked uptrend in housing market integration associated with eased residential lending standards and rapid growth in private mortg...

Hedonic house price models typically impose a constant price structure on housing characteristics throughout an entire market area. However, there is increasing evidence that the marginal prices of many important attributes vary over space, especially within large markets. In this paper, we compare two approaches to examine spatial heterogeneity in housing attribute prices within the Tucson, Ar...

This paper examines homeowners’ self-reported values in the American Housing Survey and the Health and Retirement Study from the start of the recent housing price run-ups through recent price declines. We compare zip code level market-based estimates of housing prices to those derived from homeowners’ self-reported values. We show that there are systematic differences which vary with market con...

ijur_890 936..956 The market transition in China has resulted in significant social inequality, including housing inequality, in a formerly egalitarian society. This article provides both a conceptual framework and an empirical analysis of housing inequality in transitional urban China. Using the 1995 1% Population Survey and the 2000 Census data for Beijing, it shows that there was significant...