This chapter surveys the literature on housing in macroeconomics. We first collect facts on
house prices and quantities in both the time series and the cross section of households and …

How do climate risk beliefs affect coastal housing markets? This paper provides theoretical
and empirical evidence. First, we build a dynamic housing market model and show that …

Abstract The global SARS‐CoV‐2/COVID‐19 Pandemic has disrupted public health,
economies, and housing markets since early 2020. The shock has called forth a number of …

This paper examines the role of refinancing channel and the mortgage market structure for
the transmission of monetary policy to consumption. First, I document heterogeneous …

We provide new time-varying estimates of the housing wealth effect back to the 1980s. We
use three identification strategies: ordinary least squares with a rich set of controls, the Saiz …

I investigate how the structure of the mortgage market influences macroeconomic dynamics,
using a general equilibrium framework with prepayable debt and a limit on the ratio of …

How do climate risk beliefs affect coastal housing markets? This paper provides theoretical
and empirical evidence. First, we build a dynamic housing market model and show that …

Regional shocks are an important feature of the US economy. Households' ability to self-
insure against these shocks depends on how they affect local interest rates. In the United …

Mortgages are long-term loans with nominal payments. Consequently, in incomplete asset
markets, monetary policy can affect housing investment and the economy through the cost of …

This paper incorporates diagnostic expectations into a general equilibrium macroeconomic
model with a financial intermediary sector. Diagnostic expectations are a forward-looking …