東華大學圖書館 |

語系: 繁體中文

說明(常見問題)

回圖書館首頁

手機版館藏查詢

登入

回首頁

切換: 標籤 | MARC模式 | ISBD

Essays on Post-Crisis Housing Markets /

Joo, Jincheol,

FindBook

Google Book

Amazon

博客來

Essays on Post-Crisis Housing Markets /

紀錄類型:	書目-電子資源 : Monograph/item
正題名/作者:	Essays on Post-Crisis Housing Markets // Jincheol Joo.
作者:	Joo, Jincheol,
面頁冊數:	1 electronic resource (138 pages)
附註:	Source: Dissertations Abstracts International, Volume: 86-02, Section: B.
Contained By:	Dissertations Abstracts International86-02B.
標題:	Home economics. -
電子資源:	https://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=31335713
ISBN:	9798383687222

Essays on Post-Crisis Housing Markets /
Joo, Jincheol,

Essays on Post-Crisis Housing Markets /Jincheol Joo. - 1 electronic resource (138 pages)

Source: Dissertations Abstracts International, Volume: 86-02, Section: B.

This dissertation explores the implications of major changes in the US housing market after the Great Recession. Each essay examines a specific aspect of them using different tools.The first essay accounts for the asymmetric decline in moving and homeownership rates over the 2005-2017 period, using a heterogeneous-agent model of residential moving choices. Financial intermediaries price long-term mortgages loan-by-loan, and households make a discrete choice on housing tenure and investment positions over their life-cycles. The model experiments show that the secular changes in three factors - fixed mortgage origination costs, demographics, and housing construction - explain about 30% of the decline in moving rate and most of that in homeownership rate in the long-run. In particular, the rise in origination costs plays a central role in generating the asymmetry that low- and mid-income earners move less and young households own a home less.The second essay empirically studies the effects of tightened lending standards on moving. Using the heterogeneity in regional exposure to credit supply shock as an instrumental variable, the paper shows that tighter lending standards have negative effects on moving rates post-crisis. The regression results suggest that the average changes in moving rates would have been 0.5%p higher over the 2010-2015 period if there were no contraction in credit availability. The third essay examines how the compositional changes in the ownership market affects the home price using a dynamic search model. Homeowners can hold two homes due to search frictions associated with transaction sequence - buy first or sell first. The study finds that the calibrated ownership reallocation toward those with lower costs of holding multi-homes and larger dispersion in match quality (+7% over 10 years) increases the equilibrium home price about by 3-4% while affecting transaction volume little.

English

ISBN: 9798383687222Subjects--Topical Terms:

551902
Home economics.
Subjects--Index Terms:

Housing market

Essays on Post-Crisis Housing Markets /
LDR:03383nmm a22004333i 4500 001 2430118
005 20250519114934.5
006 m o d
007 cr|nu||||||||
008 261011s2024 miu||||||m |||||||eng d
020 $a 9798383687222
035 $a (MiAaPQD)AAI31335713
035 $a AAI31335713
040 $a MiAaPQD $b eng $c MiAaPQD $e rda
100 1 $a Joo, Jincheol, $e author. $3 3818299
245 1 0 $a Essays on Post-Crisis Housing Markets / $c Jincheol Joo.
264 1 $a Ann Arbor : $b ProQuest Dissertations & Theses, $c 2024
300 $a 1 electronic resource (138 pages)
336 $a text $b txt $2 rdacontent
337 $a computer $b c $2 rdamedia
338 $a online resource $b cr $2 rdacarrier
500 $a Source: Dissertations Abstracts International, Volume: 86-02, Section: B.
500 $a Advisors: Rabinovich, Stanislav Committee members: Hendricks, Lutz; Francis, Neville; Tian, Can; Qian, Franklin.
502 $b Ph.D. $c The University of North Carolina at Chapel Hill $d 2024.
520 $a This dissertation explores the implications of major changes in the US housing market after the Great Recession. Each essay examines a specific aspect of them using different tools.The first essay accounts for the asymmetric decline in moving and homeownership rates over the 2005-2017 period, using a heterogeneous-agent model of residential moving choices. Financial intermediaries price long-term mortgages loan-by-loan, and households make a discrete choice on housing tenure and investment positions over their life-cycles. The model experiments show that the secular changes in three factors - fixed mortgage origination costs, demographics, and housing construction - explain about 30% of the decline in moving rate and most of that in homeownership rate in the long-run. In particular, the rise in origination costs plays a central role in generating the asymmetry that low- and mid-income earners move less and young households own a home less.The second essay empirically studies the effects of tightened lending standards on moving. Using the heterogeneity in regional exposure to credit supply shock as an instrumental variable, the paper shows that tighter lending standards have negative effects on moving rates post-crisis. The regression results suggest that the average changes in moving rates would have been 0.5%p higher over the 2010-2015 period if there were no contraction in credit availability. The third essay examines how the compositional changes in the ownership market affects the home price using a dynamic search model. Homeowners can hold two homes due to search frictions associated with transaction sequence - buy first or sell first. The study finds that the calibrated ownership reallocation toward those with lower costs of holding multi-homes and larger dispersion in match quality (+7% over 10 years) increases the equilibrium home price about by 3-4% while affecting transaction volume little.
546 $a English
590 $a School code: 0153
650 4 $a Home economics. $3 551902
650 4 $a Finance. $3 542899
653 $a Housing market
653 $a Investment positions
653 $a Financial intermediaries
653 $a Homeownership
690 $a 0501
690 $a 0511
690 $a 0508
690 $a 0386
710 2 $a The University of North Carolina at Chapel Hill. $b Economics. $e degree granting institution. $3 3818300
720 1 $a Rabinovich, Stanislav $e degree supervisor.
773 0 $t Dissertations Abstracts International $g 86-02B.
790 $a 0153
791 $a Ph.D.
792 $a 2024
856 4 0 $u https://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=31335713