Can the Mortensen-Pissarides Model Match the Housing Market Facts?

This paper examines whether the Mortensen-Pissarides matching model can account for the housing markets facts, most of all the empirical anomaly known as ‘price dispersion’. Our main finding is that the model can account for the three basic facts of housing market, without any restrictive assumption and in a very simple framework.

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Year of publication:	2012-01-01
Authors:	Lisi, Gaetano
Institutions:	Economics and Econometrics Research Institute (EERI)
Subject:	House prices \| time-on-the-market \| housing price dispersion \| bargaining power \| search and matching frictions

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Extent:	application/pdf
Series:	EERI Research Paper Series.
Type of publication:	Book / Working Paper
Language:	English
Notes:	Number EERI_RP_2012_01
Classification:	R0 - Urban, Rural, and Regional Economics. General ; R31 - Housing Supply and Markets ; R21 - Housing Demand ; D40 - Market Structure and Pricing. General ; D83 - Search, Learning, Information and Knowledge
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10009492746