Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/154343
Authors: 
Laeven, Luc
Popov, Alexander
Year of Publication: 
2016
Series/Report no.: 
ECB Working Paper 1910
Abstract: 
We exploit regional variations in house price fluctuations in the United States during the early to mid-2000s to study the impact of the housing boom on young Americans' choices related to home ownership, household formation, and fertility. We also introduce a novel instrument for changes in house prices based on the predetermined industrial structure of the local economy. We find that in MSAs which experienced large increases in house prices between 2001 and 2006, the youngest households were substantially less likely to purchase residential property, to be married, and to have a child, both in 2006 and in 2011.
Subjects: 
credit constraints
fertility
home ownership
house prices
household formation
JEL: 
E32
G21
J10
R21
Persistent Identifier of the first edition: 
ISBN: 
978-92-899-2158-9
Document Type: 
Working Paper

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