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The Danish Housing Market : Less Subsidy and more Flexibility
Erlandsen, Espen - 2006
While Denmark has fairly flexible labour and product markets in most respects, the housing market stands out with large direct and indirect subsidies for all types of housing and a highly regulated rental market hindering mobility, probably resulting in a mismatch between housing needs and use....
Persistent link: https://www.econbiz.de/10012445788
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Bubble, Bubble, Where's the Housing Bubble?
Smith, Margaret Hwang; Smith, Gary - In: Brookings Papers on Economic Activity 37 (2006) 1, pp. 1-68
Discussions of whether a housing bubble exists generally rely on indirect barometers such as rapidly increasing prices, unrealistic expectations of future price increases, and rising ratios of housing price indexes to indexes of household income. Such measures cannot, however, answer the key...
Persistent link: https://www.econbiz.de/10005021981
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Price Setting Behaviour of Pakistani Firms: Evidence from Four Industrial Cities of Punjab
Malik, Wasim Shahid; Satti, Ahsan ul Haq; Saghir, Ghulam - In: The Pakistan Development Review 47 (2008) 3, pp. 247-266
Macroeconomic research has mostly been focused on investigating micro foundations of the theory and transmission channels of policy ever since rational expectations have found place in the literature. It was in the 1990s that macroeconomists started working on models incorporating the assumption...
Persistent link: https://www.econbiz.de/10010541391
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Buyer’s equilibrium with capacity constraints and restricted mobility: A recursive approach
Camera, Gabriele; Kim, Jaehong - In: Economics Letters 118 (2013) 2, pp. 321-323
We study a decentralized trading model as in Peters (1984a), where heterogeneous market participants face a trade …-off between price and trade probability. We present a novel proof of existence of a unique demand vector in Nash equilibrium …
Persistent link: https://www.econbiz.de/10010608098
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Investment in Infrastructure and Trade : The Case of Ports
Brancaccio, Giulia; Kalouptsidi, Myrto; Papageorgiou, … - National Bureau of Economic Research - 2024
Transportation infrastructure is vital for the smooth functioning of international trade. Ports are a crucial gateway … to this system: with more than 80% of trade carried by ships, they shape trade costs, and it is critical that they … unveils three policy-relevant messages: (i) investing in port infrastructure can lead to substantial trade and welfare gains …
Persistent link: https://www.econbiz.de/10014544781
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Slow Learning
Christiano, Lawrence J.; Eichenbaum, Martin S.; … - National Bureau of Economic Research - 2024
This paper investigates what features of an economy determine whether convergence under learning is fast or slow. In all of the models that we consider, people's beliefs about model outcomes are central determinants of those outcomes. We argue that under certain circumstances, convergence of a...
Persistent link: https://www.econbiz.de/10014528406
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The Century of Inflation
Taylor, Bryan - In: Economic Thought journal (2006) 2, pp. 101-122
The 20th century gives us the worst inflation in human history. Every country in the world is hit during that very period. The reason for its existence is pointed out, as well as whether it is an inevitable phenomenon during the 21st century. Exchange rates and inflation are investigated....
Persistent link: https://www.econbiz.de/10004990014
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Was There a British House Price Bubble? Evidence from a Regional Panel
Cameron, Gavin; Muellbauer, John; Murphy, Anthony - C.E.P.R. Discussion Papers - 2006
This paper investigates the bubbles hypothesis with a dynamic panel data model of British regional house prices between 1972 and 2003. The model consists of a system of inverted housing demand equations, incorporating spatial interactions and lags and relevant spatial parameter heterogeneity....
Persistent link: https://www.econbiz.de/10005124041
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On the User Cost and Homeownership
Diaz, Antonia; Prado, Maria Jose Luengo - In: Review of Economic Dynamics 11 (2008) 3, pp. 584-613
-cycle model with endogenous tenure choice with households facing idiosyncratic uninsurable earnings risk and housing price risk …
Persistent link: https://www.econbiz.de/10005069648
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The Danish Housing Market: Less Subsidy and more Flexibility
Erlandsen, Espen; Lundsgaard, Jens; Hüfner, Felix - Economics Department, Organisation de Coopération et … - 2006
While Denmark has fairly flexible labour and product markets in most respects, the housing market stands out with large direct and indirect subsidies for all types of housing and a highly regulated rental market hindering mobility, probably resulting in a mismatch between housing needs and use....
Persistent link: https://www.econbiz.de/10005046153