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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/10010440971
most volatility, and a positive correlation between housing prices and transactions. This channel relies on the capital …
Persistent link: https://www.econbiz.de/10010440424
most volatility, and a positive correlation between housing prices and transactions. This channel relies on the capital …
Persistent link: https://www.econbiz.de/10010343962
Persistent link: https://www.econbiz.de/10003309446
Persistent link: https://www.econbiz.de/10001581226
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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
consistent with the data. Banking regulation, while stabilizing at the aggregate level, may induce volatility at the household …
Persistent link: https://www.econbiz.de/10014480275
time-series, the model matches the procyclicality and volatility of housing investment, and the procyclicality of mortgage … and lower downpayments, and find that these two changes can explain, in the model and in the data, the reduced volatility … of housing investment, the reduced procyclicality of mortgage debt, and a small fraction of the reduced volatility of GDP …
Persistent link: https://www.econbiz.de/10013113410