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TZID:America/Detroit
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DTSTART:20070311T020000
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BEGIN:VEVENT
DTSTAMP:20261011T182117
DTSTART;TZID=America/Detroit:20261013T110000
DTEND;TZID=America/Detroit:20261013T120000
SUMMARY:Workshop / Seminar:FSL - Joint Panhel/IFC Sober Monitor Training (SMT)
DESCRIPTION:
UID:144887-21914028@events.umich.edu
URL:https://events.umich.edu/event/144887
CLASS:PUBLIC
STATUS:CONFIRMED
CATEGORIES:Sessions
LOCATION:1443 Washtenaw Ave Ground Floor
CONTACT:
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BEGIN:VEVENT
DTSTAMP:20261007T100501
DTSTART;TZID=America/Detroit:20261013T113000
DTEND;TZID=America/Detroit:20261013T125000
SUMMARY:Workshop / Seminar:Births\, Aging\, and Migration: How Demographics and Demand Drive Growth in the US Housing Price
DESCRIPTION:The real price of housing in the US increased 60.4% from 1980 to 2019. Over this same period\, the population grew 45%\, and its composition changed as birth rates fell\, people lived longer\, and migration patterns shifted. I quantify the effects of these demographic changes on the real price of housing in a dynamic\, general equilibrium model. I adapt a standard\, state-of-the-art incomplete markets model to include time-varying demographics\, which I calibrate to exactly match a series of empirical population measures from 1980 to 2019. The model indicates that demographic changes can account for 49.6% of the measured increase in the real price of housing. The effects of demographic change in the model are born mostly by younger households: in 2019\, older households achieve a similar standard of living as older households in 1980\, while younger households own and consume less than their 1980 counterparts. Using counterfactual demographic evolutions\, I separately quantify the effects of changes in three demographic channels—births\, aging\, and migration—since 1980. Holding births constant at their 1980 level\, I find that the real price of housing rises an additional 10.2 percentage points\; counterfactuals with constant aging and migration processes produce less price growth than the baseline.
UID:149562-21906706@events.umich.edu
URL:https://events.umich.edu/event/149562
CLASS:PUBLIC
STATUS:CONFIRMED
CATEGORIES:Economics,Macroeconomics,seminar
LOCATION:North Quad - 4325
CONTACT:
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