Finocchiaro, Daria (contributor); … - 2007
frameworks where asset price booms
and busts exacerbate output fluctuations in response to aggregate shocks via their effect on … not
stock price inflation, has a better predictive content for both inflation and output (e.g., Stock and
Watson (2003 … steady state ratios of commercialandresidentialrealestate
to annual output around 70% and 145%, in consistency with the data …