Essays in real estate and finance
Name
1126277403-MIT.pdf
Size
11.86 MB
Format
Adobe PDF
Checksum (MD5)
9587bea01280ab5914cef3b743992794
Author(s)
Liebersohn, Carl J.
Advisor(s)
Antoinette Schoar.
Date Issued
2018
Publisher
Massachusetts Institute of Technology
Abstract
This dissertation consists of three chapters on topics related to real estate and finance. The first chapter studies the effects of bank competition on bank risk-taking and lending. Using a quasi-experimental design that exploits the exogenous application of bank antitrust laws following bank mergers, I show that bank competition leads to more loans going to larger and safer borrowers. The second chapter shows that housing demand shocks from 2000-2006 are highly correlated the elasticity of housing supply in different regions, and explores the implications of this for research on the effects of housing prices. The third chapter, written with Gregory Howard, proposes a new channel for changes in aggregate housing prices. We show empirically and theoretically that increased demand for housing in inelastic areas led to higher aggregate housing prices from 2000-2006, and quantify the magnitude of this channel.
Description
Thesis: Ph. D., Massachusetts Institute of Technology, Sloan School of Management, 2018
Cataloged from PDF version of thesis.
Includes bibliographical references.
Subjects
Sloan School of Management.
MIT Department
Sloan School of Management
Terms of Use
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