Housing In A Neoclassical Growth Model
We present evidence that in the USA, the relative price of housing exhibits secular growth and that its growth rate is a stationary series. The ratio of the value of house stock to either consumption or GDP is also stationary. We develop a two-sector neoclassical growth model with housing that is consistent with these facts. Among the long-run determinants of the growth of housing prices and housing stock per capita are factor intensities, rates of technological progress in both the housing and non-housing sectors, and the excess of population growth over land growth. We also study the model's transitional dynamics. Copyright 2010 The Authors. Journal compilation 2010 Blackwell Publishing Asia Pty Ltd
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Volume (Year): 15 (2010)
Issue (Month): 2 (05)
|Contact details of provider:|| Web page: http://www.blackwellpublishing.com/journal.asp?ref=1361-374X |
|Order Information:||Web: http://www.blackwellpublishing.com/subs.asp?ref=1361-374X|
When requesting a correction, please mention this item's handle: RePEc:bla:pacecr:v:15:y:2010:i:2:p:246-262. 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: (Wiley-Blackwell Digital Licensing)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.