Calendrier du 10 janvier 2017
PSI-PSE (Petit Séminaire Informel de la Paris School of Economics) Seminar
Du 10/01/2017 de 17:00 à 18:00
Campus jourdan, Bâtiment G, Rez de chaussée, Salle 10
PETRONEVICH Anna ()
Dynamical Interaction Between Financial and Business Cycles
Paris Trade Seminar
Du 10/01/2017 de 14:45 à 16:15
ScPo, 28, rue des Saints-Pères Salle : H402
COSTINOT A. (MIT)
*Micro to Macro: Optimal Trade Policy with Firm Heterogeneity
écrit avec A. Rodriguez-Clare and I. Werning
Applied Economics Lunch Seminar
Du 10/01/2017 de 12:30 à 12:30
Salle 8, RDC Bâtiment G, Campus Jourdan, 48 boulevard Jourdan, 75014 Paris
BELLET Clément (Erasmus School of Economics, Rotterdam)
The Paradox of the Joneses: Superstar Houses and Mortgage Frenzy in American Suburbs
Despite a major upscaling of suburban houses over the last decades, average house satisfaction
has remained steady in the United States. I show that upward comparison in size can
explain this paradox, as top housing size mirrored the U-shaped pattern of top income inequality.
Combining data from the American Housing Survey from 1984 to 2009 with an original
dataset of three millions suburban houses built between 1920 and 2009, I find that suburban
owners who experienced a relative downscaling of their home due to the building of bigger units
in their suburb record lower satisfaction and housing values. These homeowners are more likely
to upscale and subscribe to extra mortgage loans. Results are robust to household fixed effects
and concentrated in counties with low levels of segregation, suggesting a causal link between
inequality and mortgage debt.