of housing bubbles that predicts that places with more elastic housing supply have fewer and shorter bubbles, with … going to understand boom-bust housing cycles, we must incorporate housing supply. In this paper, we present a simple model … smaller price increases. However, the welfare consequences of bubbles may actually be higher in more elastic places because …

Housing markets experience substantial price volatility, short term price change momentum and mean reversion of prices … bubble. In this paper, we review the stylized facts of housing bubbles and discuss theories that can potentially explain … bubbles. Many non-rational explanations for real estate bubbles exist, but the most promising theories emphasize some form of …

In this essay, we review the basic economics of housing supply and the functioning of US housing markets to better …

We compare risk sharing in response to demand and supply shocks in four types of currency unions: segmented markets; a … all domestic demand shocks (deleveraging, fiscal consolidation), while a capital market union is necessary to share supply … banking union and, in the presence of supply shocks, from a capital market union …

We find that the supply of and demand for insurance for tree crops is much larger than for non-tree crops. Crop … for these specialty crops has little benefit for consumers, even when it generates a large supply response …