We construct a dynamic general equilibrium model of housing, incorporating some key features that bridge time and space. We model explicitly the evolution of housing structures/household durables and the separate role played by land, fully accounting for households’ locational choice decisions. Housing services derive positive utility, but are decayed away from the city center. Our model enables a full characterization of the dynamic paths of housing as well as housing and land prices. The model is particularly designed to be calibrated to fit some important stylized facts, including faster growth of housing structure/household durables than housing, faster growth of land prices than housing prices, a locationally steeper land rent gradie...
House prices are hugely affected by location. This is because of the unique nature of real estate-it...
For helpful comments, we thank Dan McMillen and other participants at the 2017 FSU-UF Critical Issue...
We develop a dynamic stochastic equilibrium model of two locations within a city where heterogeneous...
We construct a dynamic general equilibrium model of housing, incorporating some key features that br...
<p>The goal of this dissertation is to provide a coherent and computationally feasible basis for the...
Housing price dynamics is an important topic in urban economics. Housing plays a crucial role in hou...
Abstract. This paper examines the housing sales in China from 2004 to 2015 utilizing an optimal dyna...
We set up and solve a spatial, dynamic equilibrium model of the housing market based on two main ass...
The key stylized facts of the housing market are positive serial correlation of price changes at one...
Housing markets often exhibit a high degree of volatility in prices and quantities, with significant...
Equilibrium of the housing market depends on a complex set of interactions between: (1) individual l...
We investigate the 30 year increase in the level and dispersion of house prices across U.S. metropol...
This paper makes two contributions. On the theory side, I show that increases in the demand for hous...
A dynamic linear rational equilibrium model in the tradition of Alonso, Rosen and Roback is consiste...
We set up and solve a spatial, dynamic equilibrium model of the housing market based on two main ass...
House prices are hugely affected by location. This is because of the unique nature of real estate-it...
For helpful comments, we thank Dan McMillen and other participants at the 2017 FSU-UF Critical Issue...
We develop a dynamic stochastic equilibrium model of two locations within a city where heterogeneous...
We construct a dynamic general equilibrium model of housing, incorporating some key features that br...
<p>The goal of this dissertation is to provide a coherent and computationally feasible basis for the...
Housing price dynamics is an important topic in urban economics. Housing plays a crucial role in hou...
Abstract. This paper examines the housing sales in China from 2004 to 2015 utilizing an optimal dyna...
We set up and solve a spatial, dynamic equilibrium model of the housing market based on two main ass...
The key stylized facts of the housing market are positive serial correlation of price changes at one...
Housing markets often exhibit a high degree of volatility in prices and quantities, with significant...
Equilibrium of the housing market depends on a complex set of interactions between: (1) individual l...
We investigate the 30 year increase in the level and dispersion of house prices across U.S. metropol...
This paper makes two contributions. On the theory side, I show that increases in the demand for hous...
A dynamic linear rational equilibrium model in the tradition of Alonso, Rosen and Roback is consiste...
We set up and solve a spatial, dynamic equilibrium model of the housing market based on two main ass...
House prices are hugely affected by location. This is because of the unique nature of real estate-it...
For helpful comments, we thank Dan McMillen and other participants at the 2017 FSU-UF Critical Issue...
We develop a dynamic stochastic equilibrium model of two locations within a city where heterogeneous...