Eirik Eylands Brandsaas
I am an Economics and Finance Ph.D. Job Market Candidate from the University of Wisconsin-Madison on the 2020-2021 job market.
I introduce richer household and family structures to structural macroeconomic and household finance models. This allows me to study how household and family characteristics interact with borrowing constraints and illiquidity, and how the interactions shape macroeconomic outcomes and household wealth accumulation.
In my job market paper, I find that parental transfers account for 15pp (32%) of the homeownership rate among young American households. Second, I show that households with wealthy parents over-invest in illiquid housing to receive larger transfer. In fact, 13% of young households prefer their own housing to have sales cost.
In another working paper, I find that illiquid housing can explain both the low stock market participation rate and the high exit rates among participants. Together with Joel McMurry and Annika Bacher, I document that parental wealth increases household risk-taking in labor and asset markets.
Research Interests: Macro, Household Finance, Housing/Urban, and Family Economics.