3 results on '"Bertrand Achou"'
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2. Real Estate and Rental Markets During COVID Times
- Author
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Hippolyte d'Albis, Bertrand Achou, Eleni Iliopulos, HEC Montréal (HEC Montréal), Paris School of Economics (PSE), École des Ponts ParisTech (ENPC)-École normale supérieure - Paris (ENS Paris), Université Paris sciences et lettres (PSL)-Université Paris sciences et lettres (PSL)-Université Paris 1 Panthéon-Sorbonne (UP1)-Centre National de la Recherche Scientifique (CNRS)-École des hautes études en sciences sociales (EHESS)-Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement (INRAE), Paris Jourdan Sciences Economiques (PJSE), Université Paris 1 Panthéon-Sorbonne (UP1)-École normale supérieure - Paris (ENS Paris), Université Paris sciences et lettres (PSL)-Université Paris sciences et lettres (PSL)-École des hautes études en sciences sociales (EHESS)-École des Ponts ParisTech (ENPC)-Centre National de la Recherche Scientifique (CNRS)-Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement (INRAE), Centre d'Etudes des Politiques Economiques (EPEE), Université d'Évry-Val-d'Essonne (UEVE)-Université Paris-Saclay, and Université Paris 1 Panthéon-Sorbonne (UP1)-École normale supérieure - Paris (ENS-PSL)
- Subjects
General equilibrium theory ,media_common.quotation_subject ,JEL: E - Macroeconomics and Monetary Economics/E.E3 - Prices, Business Fluctuations, and Cycles ,Real estate ,Monetary economics ,Renting ,0502 economics and business ,Economics ,JEL: I - Health, Education, and Welfare/I.I3 - Welfare, Well-Being, and Poverty ,JEL: G - Financial Economics/G.G1 - General Financial Markets ,050207 economics ,Rental Markets ,media_common ,050208 finance ,business.industry ,05 social sciences ,Economic rent ,1. No poverty ,[SHS.ECO]Humanities and Social Sciences/Economics and Finance ,Collateral Constraints ,Interest rate ,Work (electrical) ,JEL: C - Mathematical and Quantitative Methods/C.C1 - Econometric and Statistical Methods and Methodology: General ,8. Economic growth ,Housing ,Financial Frictions ,HANK Models ,business ,Welfare - Abstract
In this work we introduce a general equilibrium model with landlords, indebted owner-occupiers and renters to study housing markets' dynamics. We estimate it by using standard Bayesian methods and match the US data of the last decades. This framework is particularly suited to explain current trends on housing markets. We highlight the crucial relationship between interest rates, house prices and rents, and argue that it helps understanding the main driving forces. Our analysis suggests that current developments on housing markets can play a role for a recovery from the Covid pandemic as they have an expansionary effect on aggregate output. Moreover, we account for the heterogeneous impact of crisis-induced policies depending on agents' status on the housing market. We show how, despite an increase in housing prices, the welfare of landlords has been negatively hit. This is associated to the joint decrease in returns on housing and financial assets that reduces their financial incomes.
- Published
- 2021
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3. Nursing Home Aversion Post-Pandemic: Implications for Savings and Long-Term Care Policy
- Author
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Bertrand Achou, Marie-Louise Leroux, Minjoon Lee, Franca Glenzer, Philippe De Donder, Retirement and savings institute, HEC, Montreal, Toulouse School of Economics (TSE), Université Toulouse 1 Capitole (UT1), Université Fédérale Toulouse Midi-Pyrénées-Université Fédérale Toulouse Midi-Pyrénées-École des hautes études en sciences sociales (EHESS)-Centre National de la Recherche Scientifique (CNRS)-Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement (INRAE), Carleton University (Carleton University), ESG-UQAM, Université du Québec à Montréal = University of Québec in Montréal (UQAM), and De Donder, Philippe
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History ,Organizational Behavior and Human Resource Management ,Economics and Econometrics ,Polymers and Plastics ,JEL: I - Health, Education, and Welfare/I.I3 - Welfare, Well-Being, and Poverty/I.I3.I31 - General Welfare, Well-Being ,Coronavirus disease 2019 (COVID-19) ,public policy ,Public policy ,Public Policy ,Media coverage ,Industrial and Manufacturing Engineering ,0502 economics and business ,Pandemic ,ddc:330 ,H31 ,H53 ,D14 ,I31 ,I10 ,Business and International Management ,050207 economics ,[SHS.ECO] Humanities and Social Sciences/Economics and Finance ,Savings ,B- ECONOMIE ET FINANCE ,H51 ,Pandemic Risk ,050208 finance ,savings ,05 social sciences ,Subsidy ,[SHS.ECO]Humanities and Social Sciences/Economics and Finance ,Long-Term Care ,JEL: I - Health, Education, and Welfare/I.I1 - Health/I.I1.I10 - General ,3. Good health ,pandemic risk ,nursing home ,Long-term care ,Nursing Home ,long-term care ,JEL: D - Microeconomics/D.D1 - Household Behavior and Family Economics/D.D1.D14 - Household Saving ,Personal Finance ,Demographic economics ,JEL: H - Public Economics/H.H3 - Fiscal Policies and Behavior of Economic Agents/H.H3.H31 - Household ,JEL: H - Public Economics/H.H5 - National Government Expenditures and Related Policies/H.H5.H51 - Government Expenditures and Health ,Business ,JEL: H - Public Economics/H.H5 - National Government Expenditures and Related Policies/H.H5.H53 - Government Expenditures and Welfare Programs ,Nursing homes - Abstract
COVID-19 outbreaks at nursing homes during the recent pandemic, which received ample media coverage, may have lasting negative impacts on individuals’ perceptions regarding ursing homes. We argue that this could have sizable and persistent implications for savings and long-term care policies. We first develop a theoretical model predicting that higher nurs- ing home aversion should induce higher savings and stronger support for policies subsidizing home care. We further document, based on a survey on Canadians in their 50s and 60s, that higher nursing home aversion is widespread: 72% of respondents are less inclined to enter a nursing home because of the pandemic. Consistent with our model, we find that the latter are much more likely to have higher intended savings for older age because of the pandemic. We also find that they are more likely to strongly support home care subsidies.
- Published
- 2021
- Full Text
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