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Elasticities in AIDS Models
In the literature, a variety of approaches have been used to calculate demand elasticities in almost ideal demand system (AIDS) models of demand. It is common to estimate the linear approximateExpand
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Metropolitan-Specific Estimates of the Price Elasticity of Supply of Housing, and Their Sources
Many reviews of housing economics (and most of the papers on the subject) have noted that, relative to many other aspects of market behavior, housing supply is understudied. Surveys by John M.Expand
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Measuring the Benefits of Homeowning: Effects on Children Redux
We find that children of homeowners have better outcomes than children of renters whether their parents make a large or small initial investment in their home, as long as they make a minimal downExpand
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Follow the Leader: How Changes in Residential and Non- residential Investment Predict Changes in GDP
This paper examines the effect of different kinds of investments on the business cycle. Specifically, it examines whether residential and non-residential investment Granger cause GDP, and whether GDPExpand
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An Almost Ideal Demand System Incorporating Habits: An Analysis of Expenditures on Food and Aggregate Commodity Groups
Breusch, T. S., and A. R. Pagan, "The Lagrange Multiplier Test and Its Applications to Model Specification in Econometrics," The Review of Economic Studies 47 (Jan. 1980), 239-254. Eden, Benjamin,Expand
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Airports and Economic Development
This article tests whether the activity at a metropolitan area's airport helps predict population and employment growth. In regression equations explaining employment and population growth, theExpand
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Home-ownership and Unemployment in the US
In this paper, we scrutinise Oswald's evidence that home-ownership and unemployment are correlated across the US states. In order to abstract from state fixed-effects in levels, we analyse theExpand
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The American Mortgage in Historical and International Context
Home mortgages have loomed continually larger in the financial situation of American households. In 1949, mortgage debt was equal to 20 percent of total household income; by 1979, it had risen to 46Expand
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Stock prices and house prices in California: new evidence of a wealth effect?
A crucial macroeconomic question facing the US economy is whether the value of the stock market has implications for consumption. If it does, it means that any severe downturn in the market couldExpand
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Whither Armington Trade Models
The Armington trade model distinguishes commodities by country of origin, and import demand is determined in a separable two-step procedure. This framework has been applied to numerous internationalExpand
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