scholarly journals History Dependence in the Housing Market

2021 ◽  
Vol 13 (2) ◽  
pp. 420-443
Author(s):  
Philippe Bracke ◽  
Silvana Tenreyro
Keyword(s):  
Housing Market ◽  
Administrative Data ◽  
House Prices ◽  
Slow Recovery ◽  
History Dependence ◽  
England And Wales ◽  
Credit Frictions ◽  
Using Data ◽  
The Impact ◽  
The Universe

Using data on the universe of housing transactions in England and Wales over a 20-year period, we document that sale prices and selling propensities are affected by house prices prevailing in the period in which properties were previously bought. Using administrative data on mortgages, we show that cognitive frictions explain most of the history dependence in sale prices, whereas credit frictions are more relevant for selling propensities. We corroborate our analysis with data on online house listings, and we estimate the impact of history dependence on the collapse and slow recovery of housing market activity in the postcrisis period. (JEL E32, R21, R31)

Funding Local Political Parties in England and Wales: Donations and Constituency Campaigns

2007 ◽  
Vol 9 (3) ◽  
pp. 365-395 ◽  
Author(s):  
Ron Johnston ◽  
Charles Pattie
Keyword(s):  
Political Parties ◽  
England And Wales ◽  
Liberal Democrats ◽  
Using Data ◽  
The Uk ◽  
The Impact

The funding of political parties is an issue of considerable contemporary concern in the UK. Although most attention has been paid to the situation regarding national parties, the new funding regime introduced in 2001 also applies to constituency parties, and some concerns have been raised regarding the limits on spending and expenditure there. Using data released by the Electoral Commission on all donations above a specified minimum to constituency parties, this article looks at the pattern of donations over the period 2001–05. It then analyses the impact of spending on the 2005 constituency campaigns, showing that for the Conservatives and Liberal Democrats substantial donations enhanced their vote-winning performances in seats where their candidates were challengers whereas for Labour substantial donations aided its performance in marginal seats that it was defending.

Homeownership and Financial Strain Following the Collapse of the Housing Market: A Comparative Study on Loan Delinquencies Between Black and White Households

2015 ◽  
Vol 26 (1) ◽  
pp. 79-93 ◽  
Author(s):  
Richard F. Bieker ◽  
Yoonkyung Yuh
Keyword(s):  
Housing Market ◽  
Housing Prices ◽  
Potential Effect ◽  
Financial Strain ◽  
Residential Housing ◽  
Black And White ◽  
Consumer Finances ◽  
Time Period ◽  
Using Data ◽  
The Impact

The objectives of this study were to evaluate the extent to which homeownership contributed to household financial strain as measured by loan delinquency after the onset of the recent housing market crash, and to examine if the impact of homeownership on household financial strain differed for Black and White households. Using data from the 2010 Survey of Consumer Finances, we found that, after controlling for other factors, a household's housing preferences had a potential effect on the likelihood of experiencing financial strain following the collapse of residential housing prices. In addition, Black homeowners were more likely to have experienced financial strain following the housing collapse than were White homeowners, regardless of the time period in which the home was purchased. The implications of the findings for public policy, personal financial planning and education, and further research are presented.

scholarly journals Changes in health and functioning of care home residents over two decades: what can we learn from population based studies?

2020 ◽  
Author(s):  
Robert O Barker ◽  
Barbara Hanratty ◽  
Andrew Kingston ◽  
Sheena Ramsay ◽  
Fiona E Matthews
Keyword(s):  
Care Home ◽  
Population Based ◽  
Severe Disability ◽  
Support Needs ◽  
Cross Sectional ◽  
England And Wales ◽  
Care Home Staff ◽  
Using Data ◽  
The Impact ◽  
Over Time

Background Care home residents have complex care and support needs, as demonstrated by their vulnerability during the COVID-19 pandemic. There is a perception that the needs of residents have increased, but evidence is limited. We investigated changes in health and functioning of care home residents over two decades in England and Wales. Methods We conducted a repeated cross-sectional analysis over a 24-year period (1992-2016), using data from three longitudinal studies, the Cognitive Function and Ageing Studies (CFAS) I and II and English Longitudinal Study of Ageing (ELSA). To adjust for ageing of respondents over time results are presented for the 75-84 age group. Results Analysis of 2,280 observations from 1,745 care home residents demonstrated increases in severe disability (difficulty in at least two from washing, dressing and toileting). The prevalence of severe disability increased from 63% in 1992 to 87% in 2014 (subsequent fall in 2016 although wide confidence intervals). The prevalence of complex multimorbidity (problems in at least three out of six body systems) increased within studies over time, from 33% to 54% in CFAS I/II between 1992 and 2012, and 26% to 54% in ELSA between 2006 and 2016. Conclusion Over two decades, there has been an increase in disability and the complexity of health problems amongst care home residents in England and Wales. A rise in support needs for residents places increasing demands on care home staff and health professionals. This is an important concern for policymakers when considering the impact of COVID-19 infection in care homes.

scholarly journals Oscillatory fluctuations in the incidence of infectious disease and the impact of vaccination: time series analysis

1984 ◽  
Vol 93 (3) ◽  
pp. 587-608 ◽  
Author(s):  
R. M. Anderson ◽  
B. T. Grenfell ◽  
R. M. May
Keyword(s):  
Time Series ◽  
Time Series Analysis ◽  
Whooping Cough ◽  
Disease Incidence ◽  
Childhood Diseases ◽  
England And Wales ◽  
Incidence Data ◽  
Series Analysis ◽  
Using Data ◽  
The Impact

SummaryThis paper uses the techniques of time series analysis (autocorrelation and spectral analysis) to examine oscillatory secular trends in the incidence of infectious diseases and the impact of mass vaccination programmes on these well-documented phenomena. We focus on three common childhood diseases: pertussis and mumps (using published disease-incidence data for England and Wales) and measles (using data from England and Wales, Scotland, North America and France). Our analysis indicates highly statistically significant seasonal and longer-term cycles in disease incidence in the prevaccination era. In general, the longer-term fluctuations (a 2-year period for measles, 3-year periods for pertussis and mumps) account for most of the cyclical variability in these data, particularly in the highly regular measles series for England and Wales. After vaccination, the periods of the longer-term oscillations tend to increase, an observation which corroborates theoretical predictions. Mass immunization against measles (which reduces epidemic fluctuations) magnifies the relative importance of the seasonal cycles. By contrast, we show that high levels of vaccination against whooping cough in England and Wales appear to have suppressed the annual cycle.

scholarly journals Innovative Use of Administrative Data in Legal Research and Practice

2020 ◽  
Vol 5 (5) ◽  
Author(s):  
Matthew A Jay ◽  
Natalie Byrom ◽  
Matthew A Jay ◽  
Suzie Forell
Keyword(s):  
Administrative Data ◽  
Social Issues ◽  
Evidence Base ◽  
Access To Justice ◽  
Data Generation ◽  
Great Opportunity ◽  
Challenges And Opportunities ◽  
Using Data ◽  
The Uk ◽  
The Impact

IntroductionThere is widespread recognition of the need to use administrative data from justice, crime, prisons and legal services to improve the evidence base on determinants and outcomes of involvement with justice systems and to improve services. There is great opportunity to use data from justice to improve health and other outcomes for clients and service users but this is a relatively unexplored area and these datasets have been neglected partly due to access concerns. This 90 minute symposium presents research and learning from data initiatives in justice settings and will explore challenges from the perspectives of researchers and the legal profession. Objectives and ApproachTalks will cover: Development of legal epidemiology and use of administrative data in this nascent field (Matthew A Jay). Examples from the presenter’s family justice research using linked data will also be presented. The UK Ministry of Justice’s (MoJ’s) Data First programme (Prof Betsy Stanko). Data First aims to unlock the potential of data already created by MoJ, by linking datasets from the justice system and beyond, and enabling accredited researchers to access the data ethically and responsibly. UK court reform and data collection: using data to monitor equality and access to justice in the move to on-line dispute resolution (Dr Natalie Byrom). Health Justice Partnerships (HJPs) in Australia (Prof Suzie Forell). HJPs bring legal help into health settings to address social issues affecting the health of patients. This will be a discussion of HJPs as an opportunity to explore the impact of legal assistance on health and the challenges and opportunities of relevant data generation. Conclusion / ImplicationsBetter use of data in justice spheres will be a difficult process requiring cross-disciplinary collaboration. But it is one that promises to bring the study and practice of law into the 21 st Century.

scholarly journals House prices and neighbourhood amenities: beyond the norm?

2018 ◽  
Vol 11 (2) ◽  
pp. 263-289 ◽  
Author(s):  
Michael James McCord ◽  
Peadar Thomas Davis ◽  
Paul Bidanset ◽  
William McCluskey ◽  
John McCord ◽  
...  
Keyword(s):  
Housing Market ◽  
House Prices ◽  
House Price ◽  
Ordinary Least Squares ◽  
Content Type ◽  
Conditional Quantiles ◽  
Price Distribution ◽  
Regression Techniques ◽  
High Level ◽  
The Impact

Purpose Understanding the key locational and neighbourhood determinants and their accessibility is a topic of great interest to policymakers, planners and property valuers. In Northern Ireland, the high level of market segregation means that it is problematic to understand the nature of the relationship between house prices and the accessibility to services and prominent neighbourhood landmarks and amenities. Therefore, this paper aims to quantify and measure the (dis)amenity effects on house pricing levels within particular geographic housing sub-markets. Design/methodology/approach Most hedonic models are estimated using regression techniques which produce one coefficient for the entirety of the pricing distribution, culminating in a single marginal implicit price. This paper uses a quantile regression (QR) approach that provides a “more complete” depiction of the marginal impacts for different quantiles of the price distribution using sales data obtained from 3,780 house sales transactions within the Belfast Housing market over 2014. Findings The findings emerging from this research demonstrate that housing and market characteristics are valued differently across the quantile values and that conditional quantiles are asymmetrical. Pertinently, the findings demonstrate that ordinary least squares (OLS) coefficient estimates have a tendency to over or under specify the marginal mean conditional pricing effects because of their inability to adequately capture and comprehend the complex spatial relationships which exist across the pricing distribution. Originality value Numerous studies have used OLS regression to measure the impact of key housing market externalities on house prices, providing a single estimate. This paper uses a QR approach to examine the impact of local amenities on house prices across the house price distribution.

Land-Use Planning and the Housing Market in Britain: The Impact on Housebuilding and House Prices

1993 ◽  
Vol 25 (7) ◽  
pp. 1021-1051 ◽  
Author(s):  
G Bramley
Keyword(s):  
Land Use ◽  
Housing Market ◽  
Land Use Planning ◽  
Large Scale ◽  
House Prices ◽  
Cross Sectional ◽  
Variable Function ◽  
Planning Function ◽  
Private Housing ◽  
The Impact

The impact of the British style of land-use planning upon the outcomes of private housing development and the housing market is examined. A unique cross-sectional database is constructed, and the medium-term elasticity of new housebuilding supply is estimated as a locally variable function of prices, costs, and land supply, with an explicit planning function. The model developed enables quantified projections to be made of the effect of specified changes in planning policy. The policy changes examined include large-scale increases in the volume of land released, changes in the mix of land released, and the use of planning agreements to pay for infrastructure or social housing.

scholarly journals Implications of US Tax Policy for House Prices, Rents, and Homeownership

2018 ◽  
Vol 108 (2) ◽  
pp. 241-274 ◽  
Author(s):  
Kamila Sommer ◽  
Paul Sullivan
Keyword(s):  
Housing Market ◽  
Tax Reform ◽  
House Prices ◽  
Mortgage Debt ◽  
Mortgage Interest ◽  
Tax Exempt ◽  
Housing Services ◽  
The Impact ◽  
Tax Deduction ◽  
Interest Payments

This paper studies the impact of the mortgage interest tax deduction on equilibrium house prices, rents, homeownership, and welfare. We build a dynamic model of the housing market that features a realistic progressive tax system in which owner-occupied housing services are tax-exempt and mortgage interest payments are tax-deductible. We simulate the effect of tax reform on the housing market. Eliminating the mortgage interest deduction causes house prices to decline, increases homeownership, decreases mortgage debt, and improves welfare. Our findings challenge the widely held view that repealing the preferential tax treatment of mortgages would depress homeownership. (JEL H24, H31, R21, R31)

scholarly journals Estimating the burden of the COVID-19 pandemic on mortality, life expectancy and lifespan inequality in England and Wales: a population-level analysis

2021 ◽  
pp. jech-2020-215505
Author(s):  
Jose Manuel Aburto ◽  
Ridhi Kashyap ◽  
Jonas Schöley ◽  
Colin Angus ◽  
John Ermisch ◽  
...  
Keyword(s):  
Life Expectancy ◽  
Excess Mortality ◽  
Prediction Interval ◽  
Age Groups ◽  
Population Level ◽  
England And Wales ◽  
Life Expectancy At Birth ◽  
Using Data ◽  
The Impact ◽  
Excess Deaths

BackgroundDeaths directly linked to COVID-19 infection may be misclassified, and the pandemic may have indirectly affected other causes of death. To overcome these measurement challenges, we estimate the impact of the COVID-19 pandemic on mortality, life expectancy and lifespan inequality from week 10 of 2020, when the first COVID-19 death was registered, to week 47 ending 20 November 2020 in England and Wales through an analysis of excess mortality.MethodsWe estimated age and sex-specific excess mortality risk and deaths above a baseline adjusted for seasonality with a systematic comparison of four different models using data from the Office for National Statistics. We additionally provide estimates of life expectancy at birth and lifespan inequality defined as the SD in age at death.ResultsThere have been 57 419 (95% prediction interval: 54 197, 60 752) excess deaths in the first 47 weeks of 2020, 55% of which occurred in men. Excess deaths increased sharply with age and men experienced elevated risks of death in all age groups. Life expectancy at birth dropped 0.9 and 1.2 years for women and men relative to the 2019 levels, respectively. Lifespan inequality also fell over the same period by 5 months for both sexes.ConclusionQuantifying excess deaths and their impact on life expectancy at birth provide a more comprehensive picture of the burden of COVID-19 on mortality. Whether mortality will return to—or even fall below—the baseline level remains to be seen as the pandemic continues to unfold and diverse interventions are put in place.

Turkish Housing Market Dynamics: An Estimated DSGE Model

2021 ◽  
Vol 15 (2) ◽  
pp. 238-267
Author(s):  
Mustafa Ozan Yıldırım ◽  
Mehmet İvrendi
Keyword(s):  
Monetary Policy ◽  
Housing Market ◽  
House Prices ◽  
House Price ◽  
Policy Instrument ◽  
Dsge Model ◽  
Macroeconomic Variables ◽  
Dynamic Stochastic ◽  
Monetary Policy Reaction Function ◽  
The Impact

In this article, we investigate the underlying driving dynamics behind house price variations in Turkey by estimating a dynamic stochastic general equilibrium (DSGE) model in which the housing market and collateral constraints are included. The model also analyses the interaction between macroeconomic variables and the housing market by making policy simulations under different loan-to-value (LTV) ratios, which are used as a housing market-specific economic policy tool. The model is extended by including the traditional Taylor rule with house prices for representing monetary policy. Our findings show that house prices in Turkey are largely explained by housing preference shocks. Besides, we find that monetary policy shock plays a small role in determining the variables of the housing market in the short-term period. However, the magnitude of the impact of housing market shocks on the rest of the economy depends on the LTV ratios. The higher the LTV ratio, the higher are the effects of the government’s housing policy instrument for stabilising the housing market on real macroeconomic variables such as consumption and output in Turkey. Finally, our findings show that the fluctuations in house prices have not played a substantial role in the monetary policy reaction function of Turkey. JEL Codes: E32, E52, E44, E51, R31

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