This paper proposes a framework for analysing speculative bubbles in housing markets. The formation of bubbles is investigated at the sub-city level, and a bubble index is constructed showing the timeline and the intensity of speculation. The city level bubble network is examined in detail, with...

This paper proposes a framework for analysing speculative bubbles in housing markets. The formation of bubbles is investigated at the sub-city level, and a bubble index is constructed showing the timeline and the intensity of speculation. The city level bubble network is examined in detail, with...

The United States labor market has become less dynamic over the past three decades. This paper explores the contribution of housing market regulation towards these declines. First, a 1sd rise in housing market regulation is associated with a 0.11-0.22sd decline in the turnover rate. Second,...

There is a long-run 'Beveridge Curve' in the Housing market given by the negative relationship between the vacancy rate of housing and the rate of household formation. This is true in the owner-occupied market, the rental market, and the total market for housing irrespective of ownership status....

This paper investigates the housing and mortgage markets by means of an agent-based macroeconomic model of a credit network economy. A set of computational experiments have been carried out in order to explore the effects of different households’ creditworthiness conditions required by banks...

In this paper the authors present an agent-based model of a credit network economy. The artificial economy includes different economic agents that interact using simple behavioral rules through various markets, i.e., the consumption goods market, the labor market, the credit market and the...

House prices have inertia, which may be because housing-market participants need time to recognize long booms and recessions. Within a dynamic stochastic general-equilibrium model with markets for housing and defaultable mortgages, I consider the case of imperfect knowledge and learning about...

The present study analyzes Perm, Russia residential housing market supply focusing on sellers' heterogeneity. Many indicators of heterogeneity were considered in the previous research, and all of them were proved to have a great impact on housing prices and time on the market. However, the gap...

This paper investigates the macroeconomic effects of search risk in the housing market. To do so, I introduce a tractable directed search model of housing with multidimensional buyer and seller heterogeneity. I incorporate this framework in an incomplete markets macroeconomic model with...