Now showing items 1-5 of 5
Property tax capitalization in a model with tax-deferred assets, standard deductions, and the taxation of nominal interest
(MIT Press, 1999-02)
Previous property tax capitalization studies assume that families itemize, that they save in taxable assets, and that real interest income is taxed. However, many families do not itemize, many families invest in tax-deferred ...
Residential buildings and the cost of construction: new evidence on the efficiency of the housing market
(MIT Press, 1999-05)
Present value studies of asset market efficiency are controversial because they compare asset prices to unobserved discounted streams of future rents. As an alternative, if housing markets are efficient, then the price of ...
Estimating the consumption and investment demands for housing and their effect on housing tenure status
(MIT Press, 1994-02)
Theoretical work suggests that families live in owner-occupied housing if their investment demand for housing exceeds their consumption demand for housing. Using household data from the 1983 Survey of Consumer Finances, ...
Non-nested Model Selection/Validation: Making Credible Postsample Inference Feasible
(Virginia Tech, 1995-04)
Effective, credible inference with respect to the postsample forecasting performance of time series models is widely held to be infeasible. Consequently, the model selection and Granger-causality literatures have focussed ...
An Elementary Method for Detecting and Modeling Regression Parameter Variation Across Frequences With an Application to Testing the Permanent Income Hypothesis
(Virginia Tech, 1997-03)
A simple technique for directly testing the parameters of a time series regression model for instability across frequencies is presented. The method can be easily implemented in the time domain, so parameter instability ...