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Details about Patric H. Hendershott

Phone:520-777-7970; 218-963-1393
Workplace:Department of Finance, Graduate School of Business, DePaul University, (more information at EDIRC)

Access statistics for papers by Patric H. Hendershott.

Last updated 2015-01-30. Update your information in the RePEc Author Service.

Short-id: phe429


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Working Papers

2017

  1. How Taxes and Required Returns Drove Commercial Real Estate Valuations over the Past Four Decades
    Working Papers, Federal Reserve Bank of Dallas Downloads View citations (1)
    See also Journal Article in National Tax Journal (2017)

2012

  1. Modelling office market dynamics: panel estimation and comparison of US metropolitan areas
    ERES, European Real Estate Society (ERES) Downloads

2011

  1. Comprehensive model of household tenure choice
    Swiss Finance Institute Research Paper Series, Swiss Finance Institute Downloads

2009

  1. Asymmetric Space Market Adjustment in the London Office Market
    Real Estate & Planning Working Papers, Henley Business School, Reading University Downloads
    Also in Real Estate & Planning Working Papers, Henley Business School, Reading University (2008) Downloads

2008

  1. ANOTHER LOOK AT THE LONDON OFFICE MARKET
    ERES, European Real Estate Society (ERES) Downloads

2005

  1. Adjustment in Property Space Markets: Estimates from the Stockholm Office Market
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (1)
    Also in ERES, European Real Estate Society (ERES) (2005) Downloads View citations (1)
  2. Evidence on Rationality in Commercial Property Markets: An Interpretation and Critique
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (1)
  3. The Sensitivity of Homeowner Leverage to the Deductibility of Home Mortgage Interest
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (1)
    See also Journal Article in Journal of Urban Economics (2006)

2004

  1. Fractional Logit Estimation of the LTV Decision
    ERES, European Real Estate Society (ERES) Downloads

2003

  1. Determinants of Cross-Sectional Variation in Discount Rates, Growth Rates, and Exit Cap Rates
    FAME Research Paper Series, International Center for Financial Asset Management and Engineering Downloads
    See also Journal Article in Real Estate Economics (2004)
  2. Homeownership and Unemployment: The Roles of Leverage and Public Housing
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (31)
  3. Investor Rationality: Evidence from UK Property Capitalization Rates
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (1)
  4. Modelling UK Office and Retail Capitalisation Rates: Evidence of Investor Rationality
    ERES, European Real Estate Society (ERES) Downloads

2002

  1. Determinants of Real House Price Dynamics
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (98)
  2. Estimating the Price Elasticity of Demand in the UK: Incorporating the Impact of Mortgage Interest Tax Relief and Credit Rationing Sample Selection Effects
    ERES, European Real Estate Society (ERES) Downloads
  3. Household Leverage and the Deductibility of Home Mortgage Interest: Evidence from UK House Purchasers
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (5)
  4. Modelling Real Esate Capitalisation Rates Using an Error Correction Model
    ERES, European Real Estate Society (ERES) Downloads
  5. The Determinants of House Price Dynamics
    ERES, European Real Estate Society (ERES) Downloads View citations (54)
  6. Valuing and Pricing Retail Leases with Renewal and Overage Options
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (2)
    See also Journal Article in The Journal of Real Estate Finance and Economics (2003)

2001

  1. Estimation of the Rental Adjustment Process
    ERES, European Real Estate Society (ERES) Downloads View citations (1)
    See also Journal Article in Real Estate Economics (2002)

2000

  1. EXPLAINING COMMERCIAL RENTS USING AN ERROR CORRECTION MODEL WITH PANEL DATA
    ERES, European Real Estate Society (ERES) Downloads
  2. Estimating the Rental Adjustment Process
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (1)
  3. Pricing Upward-Only Adjusting Leases
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (3)
    See also Journal Article in The Journal of Real Estate Finance and Economics (2002)
  4. Taxing and Subsidizing Housing Investment: The Rise and Fall of Housing's Favored Status
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (7)

1999

  1. Home Ownership and Unemployment in the U.S
    Wisconsin-Madison CULER working papers, University of Wisconsin Center for Urban Land Economic Research Downloads View citations (13)
    See also Journal Article in Urban Studies (2001)

1998

  1. Another Look at the Capitalization of Interest Subsidies: Evidence from Sweden
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads

1997

  1. Income Taxes and House Prices
    Wisconsin-Madison CULER working papers, University of Wisconsin Center for Urban Land Economic Research Downloads View citations (2)

1996

  1. Borrowing Constraints and the Tenure Choice of Young Households
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (36)
  2. Expected Home Ownership and Real Wealth Accumulation of Youth
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (12)
  3. House Prices Down Under
    ERES, European Real Estate Society (ERES) Downloads
  4. Taxes and House Prices
    ERES, European Real Estate Society (ERES) Downloads View citations (3)
  5. Taxes, Mortgage Borrowing and House Prices
    Wisconsin-Madison CULER working papers, University of Wisconsin Center for Urban Land Economic Research Downloads View citations (15)

1995

  1. Age, Housing Demand, and Real House Prices
    Wisconsin-Madison CULER working papers, University of Wisconsin Center for Urban Land Economic Research View citations (1)
    See also Journal Article in Regional Science and Urban Economics (1996)
  2. Debt Usage and Mortgage Choice: Sensitivity to Default Insurance Costs
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (1)
  3. Endogenous Mortgage Choice, Borrowing Constraints and the Tenure Decision
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (11)
  4. Loan-to-Value Ratios in Sweden - The Impact of Financial Deregulation
    ERES, European Real Estate Society (ERES) Downloads
    Also in Working Papers, Uppsala - Working Paper Series (1995)
  5. Selling Price and Selling Time: The Impact of Seller Motivation
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (8)
  6. The Tax Reform and the Housing Market
    Working Papers, Uppsala - Working Paper Series View citations (12)
  7. Wealth Accumulation and Housing Choices of Young Households: An Exploratory Investigation
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (26)

1994

  1. Bubbles in Metropolitan Housing Markets
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (14)
  2. Rental Adjustment & Valuation of Real Estate in Overbuilt Markets: Fundamental vs. Reported Office Market Values in Sydney Australia
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (4)
  3. Rental adjustment and valuation of real estate in overbuilt markets: fundamental versus reported office market values in Sydney, Australia
    ERES, European Real Estate Society (ERES) Downloads View citations (6)

1993

  1. Demographic Factors and Real House Prices
    Working Paper, USC Lusk Center for Real Estate Downloads View citations (3)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (1993) Downloads View citations (4)
    Wisconsin-Madison CULER working papers, University of Wisconsin Center for Urban Land Economic Research (1992)
  2. Equity and Nonequity Determinants of FHA Single-Family Mortgage Foreclosures in the 1980s
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (5)
    See also Journal Article in Real Estate Economics (1993)
  3. Independent Living and Homeownership: An Analysis of Australian Youth
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (4)
    See also Journal Article in Australian Economic Review (1994)

1992

  1. Office Market Values During the Past Decade: How Distorted Have Appraisals Been?
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (5)
    See also Journal Article in Real Estate Economics (1995)
  2. Over Investment in Australian Housing: Implications for Tax Policy
    CEPR Discussion Papers, Centre for Economic Policy Research, Research School of Economics, Australian National University
  3. Patterns and Determinants of Metropolitan House Prices, 1977-91
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (3)

1991

  1. An Altered U.S. Housing Finance System: Implications for Housing
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (2)
  2. Are Real House Prices Likely to Decline by 47 Percent?
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (32)
    See also Journal Article in Regional Science and Urban Economics (1991)
  3. Local House Price Indexes: 1982-1991
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (5)
    See also Journal Article in Real Estate Economics (1991)
  4. The Changing Fortunes of FHA's Mutual Mortgage Insurance Fund and the Legislative Response
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads
    See also Journal Article in The Journal of Real Estate Finance and Economics (1992)
  5. Treasury bill rates in the 1970s and 1980s
    Working Papers, Federal Reserve Bank of Boston Downloads
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (1989) Downloads View citations (2)

    See also Journal Article in Journal of Money, Credit and Banking (1992)

1990

  1. Real Rents and Household Formation: The Effect of the 1986 Tax Reform Act
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads
  2. Revenue and Welfare Implications for a Capital Gains Tax Cut
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads
  3. Risk and Return on Real Estate: Evidence from Equity REITs
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (89)
    See also Journal Article in Real Estate Economics (1990)
  4. Tenure Choice of American Youth
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (2)
  5. The Continued Interest Rate Vulnerability of Thrifts
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads
    See also Chapter (1991)
  6. The Market for Home Mortgage Credit: Recent Changes and Future Prospects
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (5)

1989

  1. Integration of Mortgage and Capital Markets and the Accumulation of Residential Capital
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (12)
    See also Journal Article in Regional Science and Urban Economics (1989)
  2. Interest Rates in the Reagan Years
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads
  3. Introducing Risky Housing and Endogenous Tenure Choice into Portfolio- Based General Equilibrium Models
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (3)
    See also Journal Article in Journal of Public Economics (1992)
  4. Reforming Conforming Loan Limits: The Impact on Thrift Earnings and Taxpayer Outlays
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads
  5. The Long-Run Impact on Federal Tax Revenues and Capital Allocation of A Cut in the Capital Gains Tax Rate
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads
    See also Journal Article in Public Finance Review (1991)

1988

  1. On the Determinants of the Value of Call Options on Default-Free Bonds
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads
  2. The Impact of the Agencies on Conventional Fixed-Rate Mortgage Yields
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (17)
    See also Journal Article in The Journal of Real Estate Finance and Economics (1989)
  3. The Tax Reform Act Of 1986 And Economic Growth
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads

1987

  1. Home Ownership and Real House Prices: Sources of Change, 1965-85
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (1)
  2. Homeownership Rates of Married Couples: An Econometric Investigation
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (3)
  3. Household Formation and Home Ownership: The Impacts of Demographics andTaxes
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (1)
  4. Pricing Mortgages: An Interpretation of the Models and Results
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (35)
  5. Private Saving in the United States: 1950-85
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (1)
  6. Understanding the Real Estate Provisions of Tax Reform: Motivation and Impact
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (4)

1986

  1. Mortgage Pricing: What Have We Learned So Far?
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (2)
  2. Real Estate and the Tax Reform Act of 1986
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (3)
  3. Tax Changes and Capital Allocation in the 1980s
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads
    See also Chapter (1987)
  4. Tax Policy and Stock Prices
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (2)
  5. Tax Reform and the Slope of the Playing Field
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (1)
    See also Chapter (1987)

1985

  1. Affordability and the Value of Seller Financing
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads
  2. Pricing Adjustable Rate Mortgages
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (1)
  3. Tax Reform and Financial Markets
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (2)
  4. Tax Reform, Interest Rates and Capital Allocation
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (4)
  5. The Administration Tax Reform Proposal and Housing
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads

1984

  1. Debt and Equity Returns Revisited
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads
    See also Chapter (1986)
  2. Expectations, Surprises and Treasury Bill Rates: 1960-82
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads
    See also Journal Article in Journal of Finance (1984)
  3. Household Formations
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (1)
  4. Household Saving: An Econometric Investigation
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (2)
  5. Pricing FHA Mortgage Default Insurance
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (11)
  6. Pricing Rate Caps on Default-Free Adjustable-Rate Mortgages
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (9)
  7. Prospective Changes in Tax Law and the Value of Depreciable Real Estate
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (4)
    See also Journal Article in Real Estate Economics (1984)
  8. Relative Factor Price Changes and Equity Prices
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (1)
  9. Tax Reform and Housing
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads
  10. The Pricing of Default-Free Mortgages
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads
  11. Trading and the Tax Shelter Value of Depreciable Real Estate
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (13)

1983

  1. Debt and Equity Yields: 1926-80
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads

1982

  1. Government Policies and the Allocation of Capital Between Residential and Industrial Uses
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (3)
  2. Taxes and the User Cost of Capital for Owner-Occupied Housing
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (11)
    See also Journal Article in Real Estate Economics (1982)
  3. The Economics of Mortgage Terminations: Implications for Mortgage Lenders and Mortgage Terms
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (2)

1981

  1. Accelerating Inflation, Nonassumable Fixed-Rate Mortgages, and Consumer Choice and Welfare
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads
  2. Housing Finance in the United States in the Year 2001
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads
  3. Inflation, Resource Utilization, and Debt and Equity Returns
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads
    See also Chapter (1982)
  4. Savings and Loan Usage of the Authority to Invest in Corporate Debt
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (1)
  5. The Allocation of Capital Between Residential and Nonresidential Uses: Taxes, Inflation and Capital Market Constraints
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (5)
    See also Journal Article in Journal of Finance (1983)
  6. The Impacts on Capital Allocation of Some Aspects of the Economic Recovery Tax Act of 1981
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads
  7. The Terminations Premium in Mortgage Coupon Rates: Evidence on the Integration of Mortgage and Bond Markets
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (2)

1980

  1. Mortgage Revenue Bonds: Tax Exemption with a Vengeance
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (1)
  2. The Economics of Tenure Choice: 1955-79
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (1)

1979

  1. Inflation and the Benefits from Owner-Occupied Housing
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (10)
  2. The Decline in Aggregate Share Values: Inflation, Taxation, Risk and Profitability
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (2)

1977

  1. The risk-free U.S. bond rate: errors in construction and use in econometric work
    Working Paper, Federal Reserve Bank of Richmond Downloads

1966

  1. The demand for money: speed of adjustment, interest rates, and wealth: a sequel
    Staff Studies, Board of Governors of the Federal Reserve System (U.S.)

Undated

  1. Systematic Valuation Errors and Property Cycles: A Clinical Study of the Sydney Office Market
    Research in Financial Economics, Ohio State University Downloads View citations (1)
  2. Uses of Equilibrium Models in Real Estate Research
    Research in Financial Economics, Ohio State University Downloads
    See also Journal Article in Journal of Property Research (1997)

Journal Articles

2017

  1. How Taxes and Required Returns Drove Commercial Real Estate Valuations over the Past Four Decades
    National Tax Journal, 2017, 70, (3), 549-584 Downloads View citations (1)
    See also Working Paper (2017)

2013

  1. Modeling Space Market Dynamics: An Illustration Using Panel Data for US Retail
    The Journal of Real Estate Finance and Economics, 2013, 47, (4), 659-687 Downloads View citations (4)

2010

  1. Asymmetric Adjustment in the City of London Office Market
    The Journal of Real Estate Finance and Economics, 2010, 41, (1), 80-101 Downloads View citations (13)

2009

  1. Evolution of the American Real Estate and Urban Economics Association1
    Real Estate Economics, 2009, 37, (4), 559-598 Downloads
  2. Marital history and home ownership: Evidence from Australia
    Journal of Housing Economics, 2009, 18, (1), 13-24 Downloads View citations (11)

2008

  1. Adjustment in Property Space Markets: Taking Long‐Term Leases and Transaction Costs Seriously
    Real Estate Economics, 2008, 36, (1), 81-109 Downloads View citations (11)

2006

  1. The sensitivity of homeowner leverage to the deductibility of home mortgage interest
    Journal of Urban Economics, 2006, 60, (1), 50-68 Downloads View citations (9)
    See also Working Paper (2005)

2005

  1. Investor Rationality: An Analysis of NCREIF Commercial Property Data
    Journal of Real Estate Research, 2005, 27, (4), 445-475 Downloads View citations (6)

2004

  1. An Anatomy of Price Dynamics in Illiquid Markets: Analysis and Evidence from Local Housing Markets
    Real Estate Economics, 2004, 32, (1), 1-32 Downloads View citations (101)
  2. Determinants of Cross‐Sectional Variation in Discount Rates, Growth Rates and Exit Cap Rates
    Real Estate Economics, 2004, 32, (2), 217-237 Downloads View citations (3)
    See also Working Paper (2003)
  3. Fund Flows and Commercial Real Estate Investment: Evidence from the Commercial Mortgage Market
    Journal of Real Estate Research, 2004, 26, (4), 417-442 Downloads
  4. Introduction
    Real Estate Economics, 2004, 32, (2), 181-182 Downloads View citations (1)

2003

  1. Corporate Equity and Commercial Property Market 'Bubbles'
    Urban Studies, 2003, 40, (5-6), 993-1009 Downloads View citations (1)
  2. Valuing and Pricing Retail Leases with Renewal and Overage Options
    The Journal of Real Estate Finance and Economics, 2003, 26, (2-3), 223-40 Downloads View citations (4)
    See also Working Paper (2002)

2002

  1. Estimation of the Rental Adjustment Process
    Real Estate Economics, 2002, 30, (2), 165-183 Downloads View citations (28)
    See also Working Paper (2001)
  2. Explaining Real Commercial Rents Using an Error Correction Model with Panel Data
    The Journal of Real Estate Finance and Economics, 2002, 24, (1-2), 59-87 Downloads View citations (12)
  3. Forecasting Housing Markets: Lessons Learned
    Real Estate Economics, 2002, 30, (1), 1-11 Downloads View citations (5)
  4. Pricing Upward-Only Adjusting Leases
    The Journal of Real Estate Finance and Economics, 2002, 25, (1), 33-49 Downloads View citations (8)
    See also Working Paper (2000)

2001

  1. Home-ownership and Unemployment in the US
    Urban Studies, 2001, 38, (9), 1509-1520 Downloads View citations (19)
    See also Working Paper (1999)

2000

  1. Mortgage Refinancing, Adverse Selection, and FHA's Streamline Program
    The Journal of Real Estate Finance and Economics, 2000, 21, (2), 153-74 Downloads
  2. Property Asset Bubbles: Evidence from the Sydney Office Market
    The Journal of Real Estate Finance and Economics, 2000, 20, (1), 67-81 Downloads View citations (10)

1999

  1. Estimating constant-quality capitalization rates and capitalization effects of below market financing
    Journal of Property Research, 1999, 16, (2), 109-122 Downloads View citations (3)
  2. The Workings of the London Office Market
    Real Estate Economics, 1999, 27, (2), 365-387 Downloads View citations (35)

1998

  1. Selling Time and Selling Price: The Influence of Seller Motivation
    Real Estate Economics, 1998, 26, (4), 719-740 Downloads View citations (62)

1997

  1. Debt Usage and Mortgage Choice: The FHA-Conventional Decision
    Journal of Urban Economics, 1997, 41, (2), 202-217 Downloads View citations (23)
  2. Uses of equilibrium models in real estate research
    Journal of Property Research, 1997, 14, (1), 1-13 Downloads View citations (2)
    See also Working Paper

1996

  1. Age, housing demand, and real house prices
    Regional Science and Urban Economics, 1996, 26, (5), 465-480 Downloads View citations (36)
    See also Working Paper (1995)
  2. Introduction and overview
    Regional Science and Urban Economics, 1996, 26, (3-4), 227-234 Downloads
  3. Rental Adjustment and Valuation in Overbuilt Markets: Evidence from the Sydney Office Market
    Journal of Urban Economics, 1996, 39, (1), 51-67 Downloads View citations (27)

1995

  1. Australian Capital City Real House Prices, 1979–1993
    Australian Economic Review, 1995, 28, (3), 16-26 Downloads View citations (13)
  2. Rapid Housing Privatization in Reforming Economies: Pay the Special Dividend Now
    The Journal of Real Estate Finance and Economics, 1995, 10, (1), 63-80 View citations (5)
  3. U.S. Office Market Values During the Past Decade: How Distorted Have Appraisals Been?
    Real Estate Economics, 1995, 23, (2), 101-116 Downloads View citations (5)
    See also Working Paper (1992)

1994

  1. Housing Decisions of American Youth
    Journal of Urban Economics, 1994, 35, (1), 28-45 Downloads View citations (38)
  2. Independent Living and Home Ownership: An Analysis of Australian Youth
    Australian Economic Review, 1994, 27, (3), 29-44 Downloads View citations (8)
    See also Working Paper (1993)

1993

  1. Equity and Nonequity Determinants of FHA Single‐Family Mortgage Foreclosures in the 1980s
    Real Estate Economics, 1993, 21, (4), 405-430 Downloads View citations (6)
    See also Working Paper (1993)
  2. The Impact of Real Rents and Wages on Household Formation
    The Review of Economics and Statistics, 1993, 75, (2), 284-93 Downloads View citations (55)

1992

  1. CAUSES AND CONSEQUENCES OF THE 1980s COMMERCIAL CONSTRUCTION BOOM
    Journal of Applied Corporate Finance, 1992, 5, (1), 61-70 Downloads View citations (11)
  2. Changes in the relative incentives to invest in housing: Australia, Sweden, and the United States
    Journal of Housing Economics, 1992, 2, (1), 60-83 Downloads View citations (1)
  3. Introducing risky housing and endogenous tenure choice into a portfolio-based general equilibrium model
    Journal of Public Economics, 1992, 48, (3), 293-316 Downloads View citations (10)
    See also Working Paper (1989)
  4. The Changing Fortunes of FHA's Mutual Mortgage Insurance Fund and the Legislative Response
    The Journal of Real Estate Finance and Economics, 1992, 5, (2), 119-32 View citations (1)
    See also Working Paper (1991)
  5. Treasury Bill Rates in the 1970s and 1980s
    Journal of Money, Credit and Banking, 1992, 24, (2), 195-214 Downloads View citations (2)
    See also Working Paper (1991)

1991

  1. Are real house prices likely to decline by 47 percent?
    Regional Science and Urban Economics, 1991, 21, (4), 553-563 Downloads View citations (37)
    See also Working Paper (1991)
  2. House Price Indexes: Issues and Results
    Real Estate Economics, 1991, 19, (3), 259-269 Downloads View citations (26)
  3. Local House Price Indexes: 1982–1991
    Real Estate Economics, 1991, 19, (3), 451-472 Downloads View citations (6)
    See also Working Paper (1991)
  4. The Long-Run Impact on Federal Tax Revenues and Capital Allocation of a Cut in the Capital Gains Tax Rate
    Public Finance Review, 1991, 19, (1), 3-21 Downloads
    See also Working Paper (1989)

1990

  1. Determinants of the Value of Call Options of Default-Free Bonds
    The Journal of Business, 1990, 63, (1), S33-50 Downloads View citations (7)
  2. Risk and Return on Real Estate: Evidence from Equity REITs
    Real Estate Economics, 1990, 18, (4), 431-452 Downloads View citations (101)
    See also Working Paper (1990)
  3. The Relationship between Median and Constant Quality House Prices: Implications for Setting FHA Loan Limits
    Real Estate Economics, 1990, 18, (3), 323-334 Downloads View citations (15)

1989

  1. Household Saving in the United States: Measurement and Behavior
    Journal of Business & Economic Statistics, 1989, 7, (1), 11-19 View citations (3)
  2. Integration of mortgage and capital markets and the accumulation of residential capital
    Regional Science and Urban Economics, 1989, 19, (2), 189-210 Downloads View citations (13)
    See also Working Paper (1989)
  3. Social Returns to Housing and Other Fixed Capital
    Real Estate Economics, 1989, 17, (2), 212-217 Downloads
  4. The Impact of the Agencies on Conventional Fixed-Rate Mortgage Yields
    The Journal of Real Estate Finance and Economics, 1989, 2, (2), 101-15 View citations (28)
    See also Working Paper (1988)

1988

  1. Adjustments in the Real Estate Market
    Real Estate Economics, 1988, 16, (4), 343-353 Downloads View citations (2)
  2. Housing Inventory Change and the Role of Existing Structures, 1961–1985
    Real Estate Economics, 1988, 16, (4), 364-378 Downloads
  3. The Determinants of REALTOR Income
    Journal of Real Estate Research, 1988, 3, (2), 53-68 Downloads View citations (21)

1986

  1. Mortgage Pricing: What Have We Learned So Far?†
    Real Estate Economics, 1986, 14, (4), 497-509 Downloads View citations (1)

1985

  1. Pricing Life‐of‐Loan Rate Caps on Default‐Free Adjustable‐Rate Mortgages
    Real Estate Economics, 1985, 13, (3), 248-260 Downloads View citations (11)
  2. Valuing ARM Rate Caps: Implications of 1970–84 Interest Rate Behavior
    Real Estate Economics, 1985, 13, (3), 317-332 Downloads View citations (1)

1984

  1. Expectations, Surprises and Treasury Bill Rates: 1960-82
    Journal of Finance, 1984, 39, (3), 685-96 Downloads View citations (1)
    See also Working Paper (1984)
  2. Prospective Changes in Tax Law and the Value of Depreciable Real Estate
    Real Estate Economics, 1984, 12, (3), 297-317 Downloads View citations (12)
    See also Working Paper (1984)

1983

  1. Measurement of the Spreads Between Yields on Various Mortgage Contracts and Treasury Securities
    Real Estate Economics, 1983, 11, (4), 476-490 Downloads View citations (6)
  2. The Allocation of Capital between Residential and Nonresidential Uses: Taxes, Inflation and Capital Market Constraints
    Journal of Finance, 1983, 38, (3), 795-812 Downloads View citations (8)
    See also Working Paper (1981)

1982

  1. Accelerating Inflation and Nonassumable Fixed-Rate Mortgages: Effects On Consumer Choice and Welfare
    Public Finance Review, 1982, 10, (2), 158-184 Downloads View citations (1)
  2. Capital Allocation and the Economic Recovery Tax Act of 1981
    Public Finance Review, 1982, 10, (2), 242-273 Downloads View citations (5)
  3. Overview
    Public Finance Review, 1982, 10, (2), 131-133 Downloads
  4. Taxes and the User Cost of Capital for Owner‐Occupied Housing
    Real Estate Economics, 1982, 10, (4), 375-393 Downloads View citations (45)
    See also Working Paper (1982)

1981

  1. Inflation and extraordinary returns on owner-occupied housing: Some implications for capital allocation and productivity growth
    Journal of Macroeconomics, 1981, 3, (2), 177-203 Downloads View citations (19)
  2. The Decline in Aggregate Share Values: Taxation, Valuation Errors, Risk and Profitability
    American Economic Review, 1981, 71, (5), 909-22 Downloads View citations (8)

1980

  1. Analysis of the Impact of Capital-Specific Policies or Legislation: Application to Reforms of the Tax-Exempt Market
    Journal of Money, Credit and Banking, 1980, 12, (2), 377-99 Downloads
  2. INFLATION AND THE GROWTH IN HOME MORTGAGE DEBT, 1964–78
    Journal of Financial Research, 1980, 3, (2), 189-202 Downloads
  3. Real User Costs and the Demand for Single-Family Housing
    Brookings Papers on Economic Activity, 1980, 11, (2), 401-452 Downloads View citations (19)
  4. Residential Mortgage Markets and the Cost of Mortgage Funds
    Real Estate Economics, 1980, 8, (1), 50-76 Downloads View citations (5)
  5. The Demand for Tax-Exempt Securities by Financial Institutions
    Journal of Finance, 1980, 35, (3), 717-27 Downloads View citations (4)

1979

  1. Commercial bank asset portfolio behavior in the United States: Evidence of a change in structure
    Journal of Banking & Finance, 1979, 3, (2), 113-131 Downloads
  2. The Likely Impact of Increases in Deposit Rate Ceilings on Thrift Earnings and Housing Construction*
    Real Estate Economics, 1979, 7, (2), 177-189 Downloads

1978

  1. Dynamics of forecasting financial cycles: Lacy H. Hunt, (JAI Press, Greenwich, Connecticut, 1976) pp. xxiv + 296
    Journal of Banking & Finance, 1978, 2, (2), 183-188 Downloads
  2. The Impact of Relative Security Supplies: A Test with Data from a Regional Tax-Exempt Bond Market
    Journal of Money, Credit and Banking, 1978, 10, (3), 337-47 Downloads View citations (9)
  3. The Impact of Taxes, Risk and Relative Security Supplies on Interest Rate Differentials
    Journal of Finance, 1978, 33, (4), 1173-86 Downloads View citations (13)

1977

  1. Model simulations of the impact of selective credit policies and financial reforms: The appropriate monetary-policy assumption
    Journal of Banking & Finance, 1977, 1, (2), 173-184 Downloads
  2. The GNP gap: An indicator of monetary policy?
    Journal of Monetary Economics, 1977, 3, (3), 383-386 Downloads

1976

  1. A Tax Cut in a Multiple Security Model: Crowding Out, Pulling In and the Term Structure of Interest Rates
    Journal of Finance, 1976, 31, (4), 1185-99 Downloads
  2. Policy and Statistical Exogeneity: Reply
    Journal of Finance, 1976, 31, (5), 1514-15 Downloads
  3. The Interest-Rate Behavior of Flow-of-Funds and Bank-Reserves Financial Models
    Journal of Money, Credit and Banking, 1976, 8, (4), 497-512 Downloads View citations (1)

1975

  1. Recognizing the Impact of Inflation: Discussion
    Journal of Finance, 1975, 30, (2), 504-07
  2. The Financial Behavior of Households: Some Empirical Estimates
    Journal of Finance, 1975, 30, (3), 733-59 Downloads View citations (1)

1973

  1. Expected Inflation Implied by Capital Market Rates
    Journal of Finance, 1973, 28, (2), 301-14 Downloads View citations (1)
  2. Financial Disintermediation in a Macroeconomic Framework: Reply
    Journal of Finance, 1973, 28, (4), 1033-34 Downloads
  3. Interest Rates and Prices in the Long Run: A Study of the Gibson Paradox: Comment
    Journal of Money, Credit and Banking, 1973, 5, (1), 454-59 Downloads
  4. Monetary and Fiscal Influences on U.S. Money Income, 1891-1970: Comment
    Journal of Money, Credit and Banking, 1973, 5, (1), 311-12 Downloads

1971

  1. A Flow-of-Funds Model: Estimates for the Nonbank Finance Sector
    Journal of Money, Credit and Banking, 1971, 3, (4), 815-32 Downloads View citations (4)
  2. Financial Disintermediation in a Macroeconomic Framework
    Journal of Finance, 1971, 26, (4), 843-56 Downloads View citations (1)
  3. The Full-Employment Interest Rate and the Neutralized Money Stock: Comment
    Journal of Finance, 1971, 26, (1), 127-36 Downloads

1970

  1. Free Reserves, Interest Rates, and Deposits: A Synthesis
    Journal of Finance, 1970, 25, (3), 599-13 Downloads View citations (2)
  2. Neutralization of the money stock
    Review, 1970, 52, (May), 12-14 Downloads

1968

  1. RECENT DEVELOPMENT OF THE FINANCIAL SECTOR OF ECONOMETRIC MODELS
    Journal of Finance, 1968, 23, (1), 41-66 Downloads View citations (2)

1967

  1. THE STRUCTURE OF INTERNATIONAL INTEREST RATES: THE U.S. TREASURY BILL RATE AND THE EURODOLLAR DEPOSIT RATE
    Journal of Finance, 1967, 22, (3), 455-465 Downloads View citations (20)

1966

  1. The Inside Lag in Monetary Policy: A Comment
    Journal of Political Economy, 1966, 74, 519 Downloads

Books

1996

  1. Public Policy and the Housing Market
    NBER Books, National Bureau of Economic Research, Inc

Chapters

1994

  1. Housing Finance in the United States
    A chapter in Housing Markets in the United States and Japan, 1994, pp 65-86 Downloads

1991

  1. The Continued Interest-Rate Vulnerability of Thrifts
    A chapter in Financial Markets and Financial Crises, 1991, pp 259-282 Downloads View citations (1)
    See also Working Paper (1990)

1989

  1. Aggregate U.S. Private Saving: Conceptual Measures
    A chapter in The Measurement of Saving, Investment, and Wealth, 1989, pp 185-226 Downloads View citations (2)

1987

  1. Tax Changes and Capital Allocation in the 1980s
    A chapter in The Effects of Taxation on Capital Accumulation, 1987, pp 259-294 Downloads View citations (1)
    See also Working Paper (1986)
  2. Tax Reform and the Slope of the Playing Field
    A chapter in Taxes and Capital Formation, 1987, pp 51-62 Downloads
    See also Working Paper (1986)

1986

  1. Debt and Equity Returns Revisited
    A chapter in Financing Corporate Capital Formation, 1986, pp 35-50 Downloads View citations (4)
    See also Working Paper (1984)

1985

  1. Debt and Equity Yields, 1926-1980
    A chapter in Corporate Capital Structures in the United States, 1985, pp 117-166 Downloads

1982

  1. Inflation, Resource Utilization, and Debt and Equity Returns
    A chapter in The Changing Roles of Debt and Equity in Financing U.S. Capital Formation, 1982, pp 15-26 Downloads
    See also Working Paper (1981)

1972

  1. Empirical Analysis of Capital Flows: Some Consequences of Alternative Specifications
    A chapter in International Mobility and Movement of Capital, 1972, pp 207-252 Downloads View citations (1)
 
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