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Author: Guangyu Nie
Publisher:
ISBN:
Category : Economics
Languages : en
Pages : 310
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Book Description
This dissertation focuses on labor economics and macroeconomics.
Author: Guangyu Nie
Publisher:
ISBN:
Category : Economics
Languages : en
Pages : 310
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Book Description
This dissertation focuses on labor economics and macroeconomics.
Author: Bulent Guler
Publisher:
ISBN:
Category : Housing
Languages : en
Pages : 372
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Book Description
In the first chapter, I study the effects of innovations in information technology on the housing market. Specifically, I focus on the improved ability of lenders to assess the credit risk of home buyers, which has become possible with the emergence of automated underwriting systems in the United States in the mid-1990s. I develop a standard life-cycle model with incomplete markets and idiosyncratic income uncertainty. I explicitly model the housing tenure choice of the households: rent/purchase decision for renters and stay/sell/default decision for homeowners. Risk-free lenders offer mortgage contracts to prospective home buyers and the terms of these contracts depend on the observable characteristics of households. Households are born as either good credit risk types--having a high time discount factor--or bad types--having a low time discount factor. The type of the household is the only source of asymmetric information between households and lenders. I find that as lenders have better information about the type of households, the average down payment fraction decreases together with an increase in the average mortgage premium, the foreclosure rate, and the dispersions of mortgage interest rates and down payment fractions, which are consistent with the trends in the housing market in the last 15 years. From a welfare perspective, I find that better information, on average, makes households better off. In the second chapter, I focus on the labor market behavior of couples. Search theory routinely assumes that decisions about the acceptance/rejection of job offers (and, hence, about labor market movements between jobs or across employment states) are made by individuals acting in isolation. In reality, the vast majority of workers are somewhat tied to their partners--in couples and families--and decisions are made jointly. This chapter studies, from a theoretical viewpoint, the joint job-search and location problem of a household formed by a couple (e.g., husband and wife) who perfectly pool income. The objective of the exercise, very much in the spirit of standard search theory, is to characterize the reservation wage behavior of the couple and compare it to the single-agent search model in order to understand the ramifications of partnerships for individual labor market outcomes and wage dynamics. We focus on two main cases. First, when couples are risk averse and pool income, joint-search yields new opportunities--similar to on-the job search--relative to the single-agent search. Second, when couples face offers from multiple locations and a cost of living apart, joint-search features new frictions and can lead to significantly worse outcomes than single-agent search. Finally, in the third chapter, I focus on the relation between house prices and interest rates. Although interest rates and housing prices seem mostly to have a negative relation in the data, the relation does not seem to be stable. For example, the recent run up in the global housing prices is generally explained by globally low interest rates. On the other hand, there have been periods where housing prices and interest rates moved together. Motivated by these observations, I formulate a two period OLG model to find out the form of the relationship between interest rates and housing prices. It appears that the distribution of homeownership is also important for housing price dynamics. I show that housing prices in the equilibrium do not always have a negative relation with interest rates.
Author:
Publisher:
ISBN:
Category : Dissertations, Academic
Languages : en
Pages : 978
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Book Description
Author: American Bar Association. House of Delegates
Publisher: American Bar Association
ISBN: 9781590318737
Category : Law
Languages : en
Pages : 216
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Book Description
The Model Rules of Professional Conduct provides an up-to-date resource for information on legal ethics. Federal, state and local courts in all jurisdictions look to the Rules for guidance in solving lawyer malpractice cases, disciplinary actions, disqualification issues, sanctions questions and much more. In this volume, black-letter Rules of Professional Conduct are followed by numbered Comments that explain each Rule's purpose and provide suggestions for its practical application. The Rules will help you identify proper conduct in a variety of given situations, review those instances where discretionary action is possible, and define the nature of the relationship between you and your clients, colleagues and the courts.
Author:
Publisher:
ISBN:
Category : Dissertation abstracts
Languages : en
Pages : 784
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Book Description
Author:
Publisher:
ISBN:
Category : Dissertations, Academic
Languages : en
Pages : 562
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Book Description
Author: Martin Browning
Publisher: Cambridge University Press
ISBN: 1107728924
Category : Business & Economics
Languages : en
Pages : 511
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Book Description
The family is a complex decision unit in which partners with potentially different objectives make consumption, work and fertility decisions. Couples marry and divorce partly based on their ability to coordinate these activities, which in turn depends on how well they are matched. This book provides a comprehensive, modern and self-contained account of the research in the growing area of family economics. The first half of the book develops several alternative models of family decision making. Particular attention is paid to the collective model and its testable implications. The second half discusses household formation and dissolution and who marries whom. Matching models with and without frictions are analyzed and the important role of within-family transfers is explained. The implications for marriage, divorce and fertility are discussed. The book is intended for graduate students in economics and for researchers in other fields interested in the economic approach to the family.
Author: Milton Friedman
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 374
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Book Description
Author: Rebecca K. Marchiel
Publisher: University of Chicago Press
ISBN: 0226815862
Category : Business & Economics
Languages : en
Pages : 321
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Book Description
"The story of how American banks helped disenfranchise nonwhite urbanities and condemn to blight the very neighborhoods that needed the most investment is infuriating. And yet, by digging into the history of urban finance, Rebecca Marchiel here illuminates how urban activists changed some banks' behavior to support investment in communities that they had once abandoned. These developments, in turn, affected federal urban policy and reshaped banks' understanding of the role that urban communities play in the financial system. The legacy of reinvestment activism is clouded, but Marchiel's detailing of it transforms our understanding of the history and significance of community/bank relations"--Provided by publisher.
Author: Shoshana Grossbard-schectman
Publisher: Routledge
ISBN: 1000306461
Category : Social Science
Languages : en
Pages : 369
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Book Description
Marriage is an institution that plays a central role in most societies. As it affects decisions regarding labor supply, consumption, reproduction, and other important decisions, marriage receives considerable attention in academic circles. Much research has been done about marriage, principally by sociologists, psychologists, and anthropologists.
