Advanced Search
MyIDEAS: Login to save this article or follow this journal

The Baby Boom, the Baby Bust and the Housing Market: A Further Look at the Debate


Author Info

  • Alperovich, Gershon
Registered author(s):


    Recently a number of papers appeared in the literature which analyzed the movement of the real price of housing in the US. Based on their analysis Mankiw and Weil predicted that housing values in the US would fall by 47% over the next twenty years. Understandably, this prediction raised considerable interest and controversy in the literature from scholars who casted serious doubts on the accuracy of the estimates derived by Mankiw and Weil. A major limitation overshadowing the entire debate is lack of rigorous derivation of the estimated models. In this paper we explicitly derive a consistent version of a static model of the housing market tacit in the estimated equations. The model shows that both the real asset price of housing equation and the real rental price of housing equation used by Mankiw and Weil and some of their critics are misspecified. It is suggested that using the correctly specified equations sheds light on the debate and may give more credible estimates of the estimates on which housing prices' predictions are based.

    Download Info

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below under "Related research" whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Bibliographic Info

    Article provided by Springer in its journal Annals of Regional Science.

    Volume (Year): 29 (1995)
    Issue (Month): 1 (February)
    Pages: 111-16

    as in new window
    Handle: RePEc:spr:anresc:v:29:y:1995:i:1:p:111-16

    Contact details of provider:
    Web page:
    More information through EDIRC

    Order Information:

    Related research



    No references listed on IDEAS
    You can help add them by filling out this form.


    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as in new window

    Cited by:
    1. Mika Kuismanen & Seppo Laakso & Heikki A. Loikkanen, 1999. "Demographic Factors and the Demand for Housing in the Helsinki Metropolitan Area," Discussion Papers 191, Government Institute for Economic Research Finland (VATT).


    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.


    Access and download statistics


    When requesting a correction, please mention this item's handle: RePEc:spr:anresc:v:29:y:1995:i:1:p:111-16. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Guenther Eichhorn) or (Christopher F Baum).

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.