| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w30041 |
| 来源ID | Working Paper 30041 |
| Housing Demand and Remote Work | |
| John A. Mondragon; Johannes Wieland | |
| 发表日期 | 2022-05-16 |
| 出版年 | 2022 |
| 语种 | 英语 |
| 摘要 | What explains record U.S. house price growth since late 2019? We show that the shift to remote work explains over one half of the 23.8 percent national house price increase over this period. Using variation in remote work exposure across U.S. metropolitan areas we estimate that an additional percentage point of remote work causes a 0.93 percent increase in house prices after controlling for negative spillovers from migration. This cross-sectional estimate combined with the aggregate shift to remote work implies that remote work raised aggregate U.S. house prices by 15.1 percent. Using a model of remote work and location choice we argue that this estimate is a lower bound on the aggregate effect. Our results imply a fundamentals-based explanation for the recent increases in housing costs over speculation or financial factors, and that the evolution of remote work is likely to have large effects on the future path of house prices and inflation. |
| 主题 | Macroeconomics ; Business Cycles ; Fiscal Policy ; Other ; Accounting, Marketing, and Personnel ; Regional and Urban Economics ; Real Estate ; COVID-19 |
| URL | https://www.nber.org/papers/w30041 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/587715 |
| 推荐引用方式 GB/T 7714 | John A. Mondragon,Johannes Wieland. Housing Demand and Remote Work. 2022. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w30041.pdf（611KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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