How Housing Booms Unwind: Income Effects, Wealth Effects, and Feedbacks Through Financial Markets

Karl Case and John Quigley

Berkeley Program on Housing and Urban Policy, Working Paper Series from Berkeley Program on Housing and Urban Policy

Abstract: The mobility of consumers and producers in response to fiscal incentives gives the study of local public finance its distinctive character. Households and firms are partitioned into spatial units on the basis of preferences, costs and the incentives provided by local tax and expenditure policies. These fiscal incentives are, in turn, chosen by the members of each of these jurisdictions or clubs. Externalities within and between these localities greatly affect the efficiency of taxation and the provision of public goods and services.

Keywords: Housing cycles; residential investment; recession; Social and Behavioral Sciences (search for similar items in EconPapers)
Date: 2008-06-01
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (39)

Downloads: (external link)
https://www.escholarship.org/uc/item/1j05j7t5.pdf;origin=repeccitec (application/pdf)

Related works:
Journal Article: How Housing Booms Unwind: Income Effects, Wealth Effects, and Feedbacks through Financial Markets (2008)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:cdl:bphupl:qt1j05j7t5

Access Statistics for this paper

More papers in Berkeley Program on Housing and Urban Policy, Working Paper Series from Berkeley Program on Housing and Urban Policy Contact information at EDIRC.
Bibliographic data for series maintained by Lisa Schiff ().