Krainer, John (contributor); Spiegel, Mark (contributor); … - 2005
January 2005
Working Paper 2004-16
http://www.frbsf.org/publications/economics/papers/2004/wp04-16bk … business cycle (Krainer (2001)).
A separate literature seeking to explain real estate price dynamics has developed
around … business cycles.
4
backward-looking expectations by market participants. In our paper, serial correlation in
prices …