Suchergebnisse

We study housing markets with multiple segments searched by heterogeneous clienteles. In the San Francisco Bay Area, search activity and inventory covary negatively across cities, but positively across market segments within cities. A quantitative search model shows how the endogenous flow of broad searchers to high-inventory segments within their search ranges induces a positive relationship between inventory and search activity across segments with a large common clientele. The prevalence of broad searchers shapes the response of housing markets to localized supply and demand shocks. Broad searchers help spread shocks across many segments and reduce their effect on local market activity. (JEL D83, R21, R31)

This paper examines the effect of international price arbitrage on the willingness to set unilateral export controls. The restriction on the quality of exports of security-sensitive products limits the outside option of domestic customers: if the product available on the international market is of low quality, the firm can charge a high price to domestic customers for its latest technology. This effect leads the government to be less willing to introduce export controls on security-sensitive products. 1 Figure, 14 References. Adapted from the source document.