This paper is concerned with the relationship between saving and growth. Within an overlapping- generations model of economic growth, we ask how the existence of a fixed supply of land for housing, for which consumers must save prior to ownership, and whose price is bid up by economic growth, affects the steady state growth path of the economy.
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Paper provided by Princeton University, Woodrow Wilson School of Public and International Affairs, Research Program in Development Studies. in its series Working Papers with number
223.