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Persistent link: https://www.econbiz.de/10003644022
In spite of a growing recognition of the importance of supply conditions for the level and volatility of house prices …, empirical work on housing supply outside the US is scarce. This paper considers various measures of housing supply in the …
Persistent link: https://www.econbiz.de/10011372990
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problems regulators have to deal with. We use experimental data to study the sources of market power with supply function … pivotal; that is, if the supplier's capacity is required in order to meet demand. To be able to isolate the impact of demand … and capacity conditions on market power, our treatments vary the distribution of demand levels as well as the amount and …
Persistent link: https://www.econbiz.de/10011383176
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Even though economic models have been relatively successful in explaining the long run patterns of house prices, they have more difficulties in explaining short run developments of the housing markets. However, the fact that during such ‘bubbles’ the spatial pattern of house prices, which...
Persistent link: https://www.econbiz.de/10011372973
According to economic theory, there are no strong reasons to tax (or to subsidise) residential moves, although low levels of taxation may be potentially justified to deal with the presence of externalities and economic stability. This is in contrast to practise in most countries where...
Persistent link: https://www.econbiz.de/10011377118
In housing markets with asymmetric information list prices may signal unobserved properties of the house or the seller. Asymmetric information is the starting point of many models for the housing market. In this paper, we estimate the causal effect of list-price reductions to test for the...
Persistent link: https://www.econbiz.de/10011380153