Annual Conference

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Household Finance

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May 2024

This study examines the impact of real estate developers on homeownership and the role of regulatory interventions. Over recent decades, developers have substantially influenced global homeownership trends. Despite their pivotal role, concerns persist over operational uncertainties, including projec...
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Annual Conference

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Household Finance

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May 2024

Does household leverage matter for workers’ job search, matching in the labor market, and wages? Theoretically, household leverage has been shown to have opposing effects on the labor market through, among others, a debt-overhang and a liquidity constraint channel. To test which channels dominate ...
Keywords: Household leverage, household debt, job displacement, job search, macroprudential policy, wages.
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Annual Conference

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Household Finance

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May 2024

Using a novel representative sample of digital payment and fund investment data, we observe a robust U-shaped relation between individual investors’ consumption and their financial wealth shocks. Contrary to the prediction of the wealth effect, individuals increase their consumption shortly after ...
Keywords: Wealth shocks, Consumption responses, Behavioral finance, Individual investors, Financial retail therapy, Digital payment data
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Annual Conference

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Real Estate and Urban Economics

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May 2024

The operation of residential buildings (our homes) is responsible for roughly 22% of the global energy consumption and 17% of the CO2 emissions. We study the effects of a regulatory intervention aiming to reduce carbon emissions by requiring privately rented properties to satisfy minimum energy effi...
Keywords: Real Estate, Household Finance, Energy Efficiency, Climate Change.
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Annual Conference

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Real Estate and Urban Economics

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May 2024

Exploiting variations in flood timing from the United States as a quasi-natural experiment, this study shows that floods cause population replacement in affected regions with 1.9% inflow and 2.7% outflow migration, respectively. They trigger younger, highly educated, and employed residents out of, a...
Keywords: Flood, migration, media sentiment, population replacement, residential location choice
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