Wohnimmobilienmärkte - Makroökonomie, Finanzintermediation und Geldpolitik: Theorie und Empirischer Nachweis für die USA und Europa

• Antragsteller: Professor Gabriel Lee, Ph.D.
• Fachliche Zuordnung: Wirtschaftstheorie ; Wirtschaftspolitik, Angewandte Volkswirtschaftslehre
• Förderung: Förderung von 2013 bis 2016
• Projektkennung: Deutsche Forschungsgemeinschaft (DFG) - Projektnummer 236861276

• Erstellungsjahr: 2017

Zusammenfassung der Projektergebnisse

During our DFG project, we have written 8 research papers that are related to the core aspect of the project: How does uncertainty shock play a role in explaining aggregate as well as housing fluctuations? To address our core question, we have used various parameters that could reflect various artificial as well as real economies around the world. Four of the papers are concerned with the role of uncertainty shocks on aggregate fluctuations, and the other four papers address the role of uncertainty shocks on both aggregate and housing markets. Our key parameters in determining and comparing various economies in Housing General Equalibrium models are the Loan to Value ratio (LTV) and borrowing interest rates.

Projektbezogene Publikationen (Auswahl)

• (2014). Risk Shocks and Housing Markets: Quantitative Analysis. Journal of Economic and Dynamic Control, 45, 194-219
  Dorofeenko, Victor, Gabriel Lee and Kevin Salyer
  
• (2015). On the di erent approaches of measuring uncertainty shocks. Economics Letters, 134 , 69-72
  Strobel, Johannes
  
• (2016). Housing and Macroeconomy: The Role of Credit Channel, Risk -, Demand - and Monetary Shocks
  Dorofeenko, Victor, Gabriel Lee, Kevin Salyer and Johannes Strobel
  
• (2016). Hump-shape Uncertainty, Agency Costs and Aggregate Fluctuations
  Lee, Gabriel, Kevin Salyer and Johannes Strobel
  
• (2016). On the Importance of Risk Shocks for Aggregate Fluctuations
  Lee, Gabriel, Kevin Salyer and Johannes Strobel
  
• (2016). Real Options E ect of Uncertainty and Labor Demand Shocks on the Housing Market
  Lee, Gabriel, Binh Nguyen-Thanh and Johannes Strobel
  
• (2016). Risk Shocks with Time-Varying Higher Moments
  Dorofeenko, Victor, Gabriel Lee, Kevin Salyer and Johannes Strobel
  
• 2019. "Uncertainty and Housing in a New Keynesian Monetary Model with Agency Costs," ERES eres2019_214, European Real Estate Society (ERES). 57 S.
  Dorofeenko, Victor, Gabriel Lee, Kevin Salyer and Johannes Strobel