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, abound. While the role of investor contagion in asset bubbles has been explored extensively in the theoretical literature …
Persistent link: https://www.econbiz.de/10011524199
Explaining asset price booms poses a difficult question for researchers in macroeconomics: how can large and persistent price growth be explained in the absence large and persistent variation in fundamentals? This paper argues that boom-bust behavior in asset prices can be explained by a model...
Persistent link: https://www.econbiz.de/10011563199
We study the joint evolution of prices and rents of residential property. After constructing rent and price indices for renter- and owner-occupied properties, we decompose the change in the price of occupant-owned property into (1) changes in rent, (2) changes in the relative prices of investor-...
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In this paper, the authors construct country-specific chronologies of the house price bubbles for 12 OECD countries … price bubbles than the signalling approach. Furthermore, the predictive accuracy of the logit and probit models is high … enough to make them useful in forecasting future speculative bubbles in housing market. Thus, this method can be used by the …
Persistent link: https://www.econbiz.de/10009719582
Internal migration in the United States has declined substantially over the past several decades, which has important implications for individual welfare, macroeconomic adjustments, and other key outcomes. This paper studies the determinants of internal migration and how they have changed over...
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