Working Papers“The Price of Residential Land for Counties, ZIP codes, and Census Tracts in the United States"
with William Larson, FHFA, Stephen D. Oliner, American Enterprise Institute and UCLA, and Jessica Shui, FHFA.
Federal Finance Housing Agency (FHFA) Working Paper 19-01. Excel file with all data available for download here.
Last updated January, 2019.
"The Impact of Federal Housing Policy on Housing Demand and Homeownership: Evidence from a Quasi-Experiment" with Stephen D. Oliner, American Enterprise Institute and UCLA, Tobias J. Peter, American Enterprise Institute and Edward
J. Pinto, American Enterprise Institute.
Last updated Janauary, 2019.
“Neighborhood Choices, Neighborhood Effects and Housing Vouchers"
with Jesse Gregory, University of Wisconsin-Madison, Daniel A. Hartley,
Federal Reserve Bank of Chicago, and Kegon T. K. Tan, University of Rochester.
Last updated May, 2018.
“Gross Migration, Housing and Urban Population Dynamics” with Jonas D.M. Fisher and Marcelo Veracierto, Federal Reserve Bank of Chicago.
Last updated March, 2016. Technical appendix here.
Published Articles, Book Chapters, Notes, etc.
“School-Age Children in Rental Unites in New Jersey: Results from a Survey of Developers and Property Managers,” with David Frame, Rutgers University, Ronald S. Ladell, Avalon Bay and Debra Tantleff, Tantum Real Estate.
Rutgers Center for Real Estate White Paper, July 2018
“Residential Land Values in the Washington, DC Metro Area: New Insights from Big Data”
with Stephen D. Oliner, American Enterprise Institute and UCLA, Edward
J. Pinto, American Enterprise Institute, and Sankar Bokka, FNC, Inc..
and Urban Economics 2017, vol. 66 (September), pages 224-246..
“On the Nature of Self-Assessed House Prices” with Erwan Quintin, University of Wisconsin-Madison.
Economics 2017, vol. 45 (3), pages 628-649.
“Homework in Monetary Economics: Inflation, Home Production, and the Production of Homes” with S. Borağan Aruoba, University of Maryland, and Randall Wright, University of Wisconsin-Madison.
Review of Economic Dynamics 2016, vol. 21 (July), pages 105-124. Data here.
“Housing, Finance and the Macroeconomy” (handbook chapter) with Stijn Van Nieuwerburgh, New York University.“Macroeconomic Implications of Agglomeration” with Jonas D.M. Fisher, Federal Reserve Bank of Chicago, and Toni M. Whited, University of Rochester.
Handbook of Urban and Regional Economics, Edited by Gilles Duranton, J. Vernon Henderson and William C. Strange, 2015, Volume 5, p. 753-811
Econometrica 2014, vol. 82 (2), pages 731-764. Programs and data here, model solution here, appendix here.
“Questioning Homeownership as a Public Policy Goal” “Household Expenditures, Wages, Rents” with François Ortalo-Magné, University of Wisconsin-Madison
Cato Institute Policy Analysis No. 696, Cato Institute. May, 2012.
Review of Economic Dynamics 2011, vol. 14 (2), pages 248-261. Data here.
“Housing and the Business Cycle” edited by S. Durlauf and L. Blume
New Palgrave Dictionary of Economics Online, 2010. Online version here.
“Reflections on the Foreclosure Crisis”
Land Lines, Lincoln Institute of Land Policy 2010-07. Online version here.
of Endogenous Gentrification and Housing Price Dynamics, by Guerrieri,
Hartley and Hurst. Prepared for the 2010-02 EFG Meetings in San
Francisco. Last updated February, 2010.
“What Moves Housing Markets: A Variance Decomposition of the Rent-Price Ratio” with Sean Campbell, Joshua Gallin, and Robert F. Martin, Federal Reserve Board. Appendix here. Data here.
Journal of Urban Economics 2009, vol. 66 (2), p. 90-102
“Housing, Home Production, and the Equity and Value Premium Puzzles” with Robert F. Martin, Federal Reserve Board.
Journal of Housing Economics 2009, vol. 18 (2), p. 81-91
“The Price and Quantity of Land by Legal Form of Organization in the United States”
Regional Science and Urban Economics 2009, vol. 39 (3), p. 350-359. Data here.
“The Price of Residential Land in Large U.S. Cities” with Michael G. Palumbo, Federal Reserve Board
Journal of Urban Economics 2008, vol. 63 (1), p. 352-384. Data here.
“The Rent-Price Ratio for the Aggregate Stock of Owner-Occupied Housing”with Andreas Lehnert and Robert F. Martin, Federal Reserve Board
Review of Income and Wealth 2008, vol. 54 (2), p. 279-284. Data here.
“The Price and Quantity of Residential Land in the United States" with Jonathan Heathcote, Federal Reserve Board and Georgetown University
Journal of Monetary Economics 2007, vol. 54 (8), p. 2595-2620. Appendix here. Data here.
“What’s Really Happening in Housing Markets?" with François Ortalo-Magné, University of Wisconsin-Madison, and Peter C. Rupert, Federal Reserve Bank of Cleveland
Economic Commentary, Federal Reserve Bank of Cleveland 2007-07
“Housing and the Business Cycle” with Jonathan Heathcote, Georgetown University
International Economic Review 2005, vol. 46 (3), p. 751-784. Appendix (out of date) here. Data (10/2002) here.
“A Stochastic Dynamic Model of the Mental Health of Children” with E. Michael Foster, Penn State
International Economic Review 2005, vol. 46 (3), p. 837-866
“A Primer on the Economics and Time Series Econometrics of Wealth Effects” with Michael G. Palumbo, Federal Reserve Board.
Last updated September, 2001.