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most volatility, and a positive correlation between housing prices and transactions. This channel relies on the capital …
Persistent link: https://www.econbiz.de/10010343962
most volatility, and a positive correlation between housing prices and transactions. This channel relies on the capital …
Persistent link: https://www.econbiz.de/10010440424
This paper presents a dynamic theory of housing market fluctuations. It develops a life-cycle model where households …
Persistent link: https://www.econbiz.de/10010440971
Persistent link: https://www.econbiz.de/10003309446
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This paper presents a dynamic theory of housing market fluctuations. It develops a life-cycle model where households …
Persistent link: https://www.econbiz.de/10014460994
This paper quantitatively accounts for the cyclical dynamics of key macroeconomic housing and mortgage market variables using a tractable, searchtheoretic model of housing with equilibrium mortgage default. To explain these dynamics, the model highlights the importance of liquidity spirals that...
Persistent link: https://www.econbiz.de/10011798986
shocks, while a contractionary monetary policy shock depress housing output, demand and prices. Additionally, we find …
Persistent link: https://www.econbiz.de/10012171072