Motivated by the complexity of price dynamics during the booms and bursts of housing market, we examine two types of housing market crashes - sudden crashes and smooth crashes - using a deterministic heterogeneous agent model (HAM). By matching simulated price dynamics to real historical data, we show that housing market crashes may have endogenous origins which can be explained by the interactions between heterogeneous agents in the market. Different types of crashes in housing market are results of switching strategies by different groups of agents. We also find that increasing transaction cost in buying and selling of properties can effectively moderate price volatility in housing market.Bachelor of Art
This paper investigates the impact of speculative behavior on house price dynamics. Speculative dema...
The objective of this study is to contribute to the understanding of price formations in housing mar...
This chapter surveys the state-of-art of heterogeneous agent models (HAMs) in finance using a jointl...
Motivated by the complexity of price dynamics during the booms and bursts of housing market, we exam...
Economic history shows a large number of boom-bust cycles, with the U.S. real estate market as one o...
We develop a dynamic partial equilibrium model of the housing market, where the dynamics of the hous...
Economic history shows a large number of boom-bust cycles, with the U.S. real estate market as one o...
We develop a dynamic partial equilibrium model of the housing market, where the dynamics of the hous...
Economic history shows a large number of boom-bust cycles, with the U.S. real estate market as one o...
We develop a dynamic partial equilibrium model of the housing market, in which the dynamics of the h...
On the basis of interviews with local real estate agents, this study develops an agent-based model o...
On the basis of interviews with local real estate agents, this study develops an agent-based model o...
We study the housing market using a partial dis-equilibrium dy-namic model in which the rational exp...
The objective of this study is to contribute to the understanding of price formations in housing mar...
This paper investigates the impact of speculative behavior on house price dynamics. Speculative dema...
This paper investigates the impact of speculative behavior on house price dynamics. Speculative dema...
The objective of this study is to contribute to the understanding of price formations in housing mar...
This chapter surveys the state-of-art of heterogeneous agent models (HAMs) in finance using a jointl...
Motivated by the complexity of price dynamics during the booms and bursts of housing market, we exam...
Economic history shows a large number of boom-bust cycles, with the U.S. real estate market as one o...
We develop a dynamic partial equilibrium model of the housing market, where the dynamics of the hous...
Economic history shows a large number of boom-bust cycles, with the U.S. real estate market as one o...
We develop a dynamic partial equilibrium model of the housing market, where the dynamics of the hous...
Economic history shows a large number of boom-bust cycles, with the U.S. real estate market as one o...
We develop a dynamic partial equilibrium model of the housing market, in which the dynamics of the h...
On the basis of interviews with local real estate agents, this study develops an agent-based model o...
On the basis of interviews with local real estate agents, this study develops an agent-based model o...
We study the housing market using a partial dis-equilibrium dy-namic model in which the rational exp...
The objective of this study is to contribute to the understanding of price formations in housing mar...
This paper investigates the impact of speculative behavior on house price dynamics. Speculative dema...
This paper investigates the impact of speculative behavior on house price dynamics. Speculative dema...
The objective of this study is to contribute to the understanding of price formations in housing mar...
This chapter surveys the state-of-art of heterogeneous agent models (HAMs) in finance using a jointl...