BOOMS and BUSTS in A HOUSING MARKET with HETEROGENEOUS AGENTS

G. Ascari; Guido Ascari; Nicolo' Pecora; Alessandro Spelta

doi:10.1017/S1365100516000882

BOOMS and BUSTS in A HOUSING MARKET with HETEROGENEOUS AGENTS

G. Ascari, Guido Ascari, Nicolo' Pecora, Alessandro Spelta

University of Oxford

Risultato della ricerca: Contributo in rivista › Articolo in rivista › peer review

7 Citazioni (Scopus)

Abstract

We develop a dynamic partial equilibrium model of the housing market, in which the dynamics of the house price is determined by the interaction between chartists and fundamentalists. The model endogenously generates episodes of boom and bust in the house price and can replicate the recent US house price dynamics, and points to endogenous and exogenous behavioral factors as the main determinants of such dynamics.

Lingua originale	English
pagine (da-a)	1808-1824
Numero di pagine	17
Rivista	Macroeconomic Dynamics
Volume	22
DOI	https://doi.org/10.1017/S1365100516000882
Stato di pubblicazione	Pubblicato - 2018

Keywords

Boom-Bust
Heterogeneous Expectations
Housing market

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10.1017/S1365100516000882

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abstract = "We develop a dynamic partial equilibrium model of the housing market, in which the dynamics of the house price is determined by the interaction between chartists and fundamentalists. The model endogenously generates episodes of boom and bust in the house price and can replicate the recent US house price dynamics, and points to endogenous and exogenous behavioral factors as the main determinants of such dynamics.",

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KW - Heterogeneous Expectations

KW - Housing market

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KW - Housing market

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BOOMS and BUSTS in A HOUSING MARKET with HETEROGENEOUS AGENTS

Abstract

Keywords

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