Most advanced economies are witnessing an aging of their societies brought about by low fertility rates and increasing longevity, with substantial effects on rates of return and asset prices. This project focuses on the relationship between demographic change and house prices. Utilizing a quantitative lifecycle model calibrated to German microdata, I document demographic effects on house prices and their interaction with rates of return along a transition spanning past, present and future.

This paper investigates the distributional and welfare effects of an implementation of a Loan-to-Value requirement.

In this project we explore consumption behavior of households separated by tenure choice. For this purpose we add a housing decision to a standard incomplete markets lifecycle model and estimate the marginal propensity to consume (MPC) for renters, mortgagors and outright owners from model simulations. We document the bias of the common Blundell, Pistaferri and Preston (BPP) estimator using the true MPCs from the model and compare contemporaneous MPCs to dynamic consumption responses to income shocks.

Ph.D. Advanced Course, TA to Prof. Jesús Bueren in 2020/2021, 2021/2022 and 2022/2023.

Ph.D. Advanced Course, TA to Prof. Alexander Monge-Naranjo in 2022/2023.

Ph.D. Advanced Course, TA to Prof. Russell Cooper in 2020/2021.