期刊名称：Euro Area Balance of Payments and International Investment Position Statistics
印刷版ISSN：1830-3420
电子版ISSN：1830-3439
出版年度：2016
出版社：European Central Bank
摘要：We exploit regional variations in house price uctuations in the United States during theearly to mid-2000s to study the impact of the housing boom on young Americanschoices relatedto home ownership, household formation, and fertility. We also introduce a novel instrument forchanges in house prices based on the predetermined industrial structure of the local economy.We nd that in MSAs which experienced large increases in house prices between 2001 and 2006,the youngest households were substantially less likely to purchase residential property, to bemarried, and to have a child, both in 2006 and in 2011.
关键词：Credit constraints; house prices; home ownership; household formation; fertility.
