Housing markets and inequality
In this research area, I have incrementally developed models of housing markets where the matching between individual households and properties emerges endogenously from fundamental economic behaviour rather than purely data-driven probabilistic approaches. These models are capable of reproducing highly granular empirical facts such as the spatial distribution of property prices and housing affordability. Currently, I am working on a series of policy applications of these models to address crucial questions about the kind of regulations that policymakers and academics conjecture about, but that are difficult to properly assess ex-ante.
Decentralized markets and the emergence of housing wealth inequality
Published on: 2022Discussions on the role of housing in inequality have become prevalent (at least in the UK). Housing wealth inequality, in particular, seems largely unexplained by traditional factors such as income and education. Here, I build a high-resolution model that emerges housing wealth inequality endogenously and allows estimating the effect of unconventional institutional factors such as the market.
The spatial structure of housing affordability and the impact of public infrastructure
Published on: 2024Building on my previous work on housing wealth inequality, I generalise my model to allow for property-specific characteristics. The aim of this paper is to endogenously produce the spatial price structure of London (from economic micro-level behaviour) to enable the impact of public infrastructure on housing affordability. The subtlety in this work is that housing affordability requires both matched data between properties and household characteristics, something unavailable in official statistical datasets, and that usually requires statistical matching techniques that ignore economic behaviours and incentives.