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Reevaluating the evidence on seasonality in housing market match quality: Replication of Ngai and Tenreyro (2014)

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  • Dean Scrimgeour

Abstract

I revisit Ngai and Tenreyro (2014)'s empirical analysis of seasonal match quality in American Housing Survey (AHS) data. Using 1999 data only, Ngai and Tenreyro show that homes purchased in the summer season are occupied longer and have fewer and less costly renovations soon after purchase, pointing to superior match quality for households who move house during the thicker summer market. However, applying the same methods to other years of the AHS substantially weakens these results. In addition, I document heaping in a key variable, the prior move month, and implement a multiple imputation correction. Ngai and Tenreyro's use of a coarsened measure of duration seems to largely overcome the biases that heaping introduces.

Suggested Citation

  • Dean Scrimgeour, 2022. "Reevaluating the evidence on seasonality in housing market match quality: Replication of Ngai and Tenreyro (2014)," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 37(7), pages 1403-1409, November.
    • Handle: RePEc:wly:japmet:v:37:y:2022:i:7:p:1403-1409
    DOI: 10.1002/jae.2933
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    References listed on IDEAS

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    1. L. Rachel Ngai & Silvana Tenreyro, 2014. "Hot and Cold Seasons in the Housing Market," American Economic Review, American Economic Association, vol. 104(12), pages 3991-4026, December.
    2. David Brownstone & Robert Valletta, 2001. "The Bootstrap and Multiple Imputations: Harnessing Increased Computing Power for Improved Statistical Tests," Journal of Economic Perspectives, American Economic Association, vol. 15(4), pages 129-141, Fall.
    3. Michael Gideon & Brooke Helppie-McFall & Joanne W. Hsu, 2017. "Heaping at Round Numbers on Financial Questions : The Role of Satisficing," Finance and Economics Discussion Series 2017-006, Board of Governors of the Federal Reserve System (U.S.).
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    Cited by:

    1. Martin Hodula & Lukas Pfeifer & Ngoc Anh Ngo, 2023. "Easing of Borrower-Based Measures: Evidence from Czech Loan-Level Data," Working Papers 2023/18, Czech National Bank.

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