Seasonal Cycles in the Housing Market
AbstractThe housing market exhibits a puzzling yet repetitive seasonal boom and bust cycle where prices and trade volume rise in summers and fall in winters. This paper presents a search model that analytically generates the observed deterministic cycle.
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Bibliographic InfoPaper provided by Cardiff University, Cardiff Business School, Economics Section in its series Cardiff Economics Working Papers with number E2012/1.
Length: 10 pages
Date of creation: Jan 2012
Date of revision:
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Web page: http://business.cardiff.ac.uk/research/academic-sections/economics/working-papers
More information through EDIRC
housing; search; thin and thick markets; seasonality;
Other versions of this item:
- D39 - Microeconomics - - Distribution - - - Other
- D49 - Microeconomics - - Market Structure and Pricing - - - Other
- D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search, Learning, and Information
This paper has been announced in the following NEP Reports:
- NEP-ALL-2012-05-02 (All new papers)
- NEP-DGE-2012-05-02 (Dynamic General Equilibrium)
- NEP-URE-2012-05-02 (Urban & Real Estate Economics)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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2009 Meeting Papers
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- Ngai, Liwa Rachel & Tenreyro, Silvana, 2013. "Hot and Cold Seasons in the Housing Market," CEPR Discussion Papers 9427, C.E.P.R. Discussion Papers.
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- Krainer, John, 2001. "A Theory of Liquidity in Residential Real Estate Markets," Journal of Urban Economics, Elsevier, vol. 49(1), pages 32-53, January.
- John L. Goodman, Jr., 1993. "A Housing Market Matching Model of the Seasonality in Geographic Mobility," Journal of Real Estate Research, American Real Estate Society, vol. 8(1), pages 117-138.
- Jovanovic, Boyan, 1979.
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