Housing Market Spillovers: Evidence from an Estimated DSGE Model
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چکیده
منابع مشابه
Housing Market Spillovers: Evidence from an Estimated DSGE Model
We study sources and consequences of uctuations in the U.S. housing market. Slow technological progress in the housing sector explains the upward trend in real housing prices of the last 40 years. Over the business cycle, housing demand and housing technology shocks explain one-quarter each of the volatility of housing investment and housing prices. Monetary factors explain less than 20 percent...
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ژورنال
عنوان ژورنال: American Economic Journal: Macroeconomics
سال: 2010
ISSN: 1945-7707,1945-7715
DOI: 10.1257/mac.2.2.125