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dc.contributor.authorDavis, Morris A.en_US
dc.contributor.authorOrtalo-Magné, Françoisen_US
dc.date.accessioned2008-02-07en_US
dc.date.accessioned2009-07-28T08:28:58Z-
dc.date.available2009-07-28T08:28:58Z-
dc.date.issued2007en_US
dc.identifier.urihttp://hdl.handle.net/10419/26200-
dc.description.abstractWe provide new evidence from the 1980, 1990, and 2000 Decennial Census of Housing that the expenditure share on housing is constant over time and across U.S. metropolitan areas (MSA). Consistent with this observation, we consider a basic model in which identical households with Cobb-Douglas preferences for housing and numeraire consumption choose an MSA in which to live and MSAs differ with respect to income earned by residents. We compute constant-quality wages and rental prices for a sample of 50 U.S. MSAs. Given estimated wages, the calibrated model predicts that rental prices should be more dispersed than observed. That is, the model suggests that rental prices are too low in many high-wage MSAs in the year 2000.en_US
dc.language.isoengen_US
dc.publisherCESifo Münchenen_US
dc.relation.ispartofseriesCESifo working paper 2156en_US
dc.subject.jelD10en_US
dc.subject.jelR21en_US
dc.subject.ddc330en_US
dc.subject.keywordhousehold expendituresen_US
dc.subject.keywordhousing pricesen_US
dc.subject.keywordCobb-Douglas utilityen_US
dc.subject.stwVerbraucherausgabenen_US
dc.subject.stwGrundbesitzen_US
dc.subject.stwBallungsraumen_US
dc.subject.stwImmobilienpreisen_US
dc.subject.stwMikroökonomische Konsumfunktionen_US
dc.subject.stwUSAen_US
dc.titleHousehold expenditures, wages, rentsen_US
dc.typeWorking Paperen_US
dc.identifier.ppn557973988en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
Appears in Collections:CESifo Working Papers, CESifo Group Munich

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