Relating International Trade to the Housing Market
AbstractStudies of tariffs have tended to ignore their impact on housing markets. This paper builds a simple dynamic general-equilibrium model to bridge the gap. The model is consistent with empirical findings that housing prices in several small open economies, and the price of nontradeables relative to tradeables, have increased over time. The model also allows closed-form solutions of the elasticity of the economic growth rate, the housing-stock growth rate, and the housing-price growth rate, with respect to the tariff rate. Other testable implications are generated. Copyright 2001 by Blackwell Publishing Ltd
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Bibliographic InfoArticle provided by Wiley Blackwell in its journal Review of Development Economics.
Volume (Year): 5 (2001)
Issue (Month): 2 (June)
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Web page: http://www.blackwellpublishing.com/journal.asp?ref=1363-6669
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- Charles Ka Yui Leung & Kelvin Siu Kei Wong & Patrick Wai Yin Cheung, 2007. "On the Stability of the Implicit Prices of Housing Attributes: A Dynamic Theory and Some Evidence," International Real Estate Review, Asian Real Estate Society, vol. 10(2), pages 66-93.
- Leung, Charles, 2004.
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- Charles Ka-Yui Leung, 2004. "Macroeconomics and Housing: A Review of the Literature," Departmental Working Papers _164, Chinese University of Hong Kong, Department of Economics.
- Charles Ka Yui Leung, 2004. "Macroeconomics and Housing: A Review of the Literature," Discussion Papers 00004, Chinese University of Hong Kong, Department of Economics.
- Charles K. Y. Leung & Garion C. K. Lau & Youngman C. F. Leong, 2002. "Testing Alternative Theories of the Property Price-Trading Volume Correlation," Journal of Real Estate Research, American Real Estate Society, vol. 23(3), pages 253-264.
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