This paper uses new household survey data to study expectation formation during the recent
housing boom in Germany. The cross section of forecasts depends on only two household …

We develop a heterogeneous agent, overlapping generations model with nonhomothetic
preferences that nests several explanations for the decline in the natural rate of interest (r∗) …

The recently published Household Finance and Consumption Survey has revealed large
differences in wealth inequality between the countries of the Euro area. We document a …

We provide empirical evidence on the heterogeneous transmission of monetary policy to the
housing market across and within countries. We use household-level data from Germany …

Abstract On 23 February 2020, the Berlin Senate introduced the Berlin rent freeze
('Mietendeckel'). The law was repealed on 25 March 2021. The Berlin rent freeze was an …

This article builds a general equilibrium overlapping generations (OLG) model with
heterogeneous agents to study the welfare implications of investment housing tax …

Using sales and leasing data, this paper finds three novel effects of a higher property
transaction tax: higher buy-to-rent transactions alongside lower buy-to-own transactions …

This paper analyzes the tax effects of the German real estate transfer tax (RETT). While the
vast majority of single-family houses in Germany are owner-occupied, apartments are …

In general, there are significant cross-country differences in wealth inequality. Recent
research has documented that household socio-economic characteristics do not explain …

Over the last decade, German housing prices have increased unprecedentedly. Drawing on
quality-adjusted housing price data at the district level, we show that regional fundamentals …