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Special issue dedicated to the memory of Stephen K. Mayo

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The Role of Speculation in Real Estate Cycles

Malpezzi, Stephen - 2015

Our study investigates the role of speculation in real estate cycles. We find that even a simple model of lagged supply response to price changes and speculation is sufficient to generate real estate cycles. Second, the volatility of prices – the biggest purported downside of “speculation”...

Persistent link: https://www.econbiz.de/10013025524