and the present value of future rents. If the co-op housing market is efficient, the present value of co-op rental …-series tests of housing market efficiency. …

. The housing downturn, however, is far from complete. Using the price-rent ratio as a guide, house prices are likely to …House prices in the United Kingdom rose rapidly in recent years. The run-up, larger than any other in U.K. history …, leveled off early last year. House prices are currently declining at rates faster than those seen in the early 1990's downturn …

stochastic differential equations which describe the dynamic paths of a vector of state variables, prices, and PPP deviations …

composition of expenditure, and on the wedge between consumer and domestic prices, rather than on the response of aggregate output … and domestic prices. …

the special case in which prices are sticky and wages are perfectly flexible. When the model is calibrated to exhibit an …

experienced the most pronounced fluctuations in income and prices of this century. Is our current understanding of the behavior of … suggest that the role of income and prices in determining imports is not known with any precision. This paper offers the first …-1992 data, I find that income and prices do not affect imports whereas the opposite conclusion arises with postwar data. The …

If price levels are initially different across the euro area, convergence to a common level of prices would imply that … inflation will be higher in countries where prices are initially low. Price level convergence thus provides a potential … between 1990 and 1999 prices did become less dispersed in the euro area. Convergence is especially evident for traded goods …