Working Paper
Interregional Migration and Housing Vacancy: Theory and Empirics
Cohen, Jeffrey P.; Crews, Jonas C.; Coughlin, Cletus C. (2020-10-16)
We examine homeowner vacancy rate interdependencies over time and space through the channel of migration. Our theoretical analysis extends the Wheaton (1990) search and matching model for housing by incorporating interregional spillovers due to some households’ desires to migrate between regions and by allowing for regime-switching behavior. Our empirical analysis of vacancy rates for the entire U.S. and for Census regions provides visual evidence for the possibility of regime-switching behavior. We explicitly test our model by estimating basic Vector Autoregression (VAR) and ...
Working Papers , Paper 2018-007

Working Paper
Interregional Migration and Housing Vacancy: Theory and Empirics
Cohen, Jeffrey P.; Crews, Jonas C.; Coughlin, Cletus C. (2020-01-09)
We examine homeowner vacancy rate interdependencies over time and space through the channel of migration. Our theoretical analysis extends the Wheaton (1990) search and matching model for housing by incorporating interregional spillovers due to some households’ desires to migrate between regions and by allowing for regime-switching behavior. Our empirical analysis of vacancy rates for the entire U.S. and for Census regions provides visual evidence for the possibility of regime-switching behavior. We explicitly test our model by estimating basic Vector Autoregression (VAR) and ...
Working Papers , Paper 2018-007