-
作者:Angrist, Joshua; Azoulay, Pierre; Ellison, Glenn; Hill, Ryan; Lu, Susan Feng
作者单位:Massachusetts Institute of Technology (MIT); National Bureau of Economic Research; Purdue University System; Purdue University
-
作者:Davis, Jonathan M. V.; Heller, Sara B.
作者单位:University of Chicago; University of Pennsylvania
-
作者:Engbom, Niklas; Moser, Christian
作者单位:Princeton University; Columbia University
-
作者:Fershtman, Daniel; Pavan, Alessandro
作者单位:Northwestern University; Center for Economic & Policy Research (CEPR)
-
作者:Koijen, Ralph S. J.; Koulischer, Francois; Nguyen, Benoit; Yogo, Motohiro
作者单位:New York University; National Bureau of Economic Research; Center for Economic & Policy Research (CEPR); European Central Bank; Bank of France; Princeton University
-
作者:Knoll, Katharina; Schularick, Moritz; Steger, Thomas
作者单位:University of Bonn; Leipzig University
摘要:How have house prices evolved over the long run? This paper presents annual house prices for 14 advanced economies since 1870. We show that real house prices stayed constant from the nineteenth to the mid-twentieth century, but rose strongly and with substantial cross-country variation in the second half of the twentieth century. Land prices, not replacement costs, are the key to understanding the trajectory of house prices. Rising land prices explain about 80 percent of the global house price...
-
作者:Aguila, Emma; Kapteyn, Arie; Perez-Arce, Francisco
作者单位:University of Southern California; University of Southern California
-
作者:Guyton, John; Langetieg, Pat; Manoli, Day; Payne, Mark; Schafer, Brenda; Sebastiani, Michael
作者单位:University of Texas System; University of Texas Austin
-
作者:Sorkin, Isaac
作者单位:Stanford University
-
作者:Lundstrom, Samuel
摘要:In a recent article in the American Economic Review, Dahl and Lochner (2012) use changes in the Earned Income Tax Credit to estimate the causal effect of family income on child achievement. Their instrumental variable (IV) estimates imply that a $1,000 increase in income raises combined math and reading test scores by about 6 percent of a standard deviation. I document a variable coding error. Correcting this error reduces the IV estimates by 32 percent; correcting this error does not change t...