IDEAS home Printed from https://ideas.repec.org/a/eei/journl/v56y2013i2p78-92.html

Can the Mortensen-Pissarides Model Match the Housing Market Facts?

Author

Listed:
  • Gaetano Lisi

Abstract

In the housing markets three basic facts have been repeatedly reported by empirical studies: the existence of price dispersion, the trade-off between housing price and time-on-the-market, and the positive correlation between housing price and trading volume. Since housing markets are characterised by a decentralised framework of exchange with important search and matching frictions, this paper examines whether the baseline search and matching model can account for these three basic facts. We find that the direct relationship between market tightness and house price, derived by the standard matching model, is the key mechanism to explain the basic facts of the housing market.

Suggested Citation

  • Gaetano Lisi, 2013. "Can the Mortensen-Pissarides Model Match the Housing Market Facts?," Journal of Economics and Econometrics, Economics and Econometrics Society, vol. 56(2), pages 78-92.
    • Handle: RePEc:eei:journl:v:56:y:2013:i:2:p:78-92
    as

    Download full text from publisher

    File URL: https://ideas.repec.org/a/eei/journl/v56y2013i2p78-92.html
    Download Restriction: Full text for ScienceDirect subscribers only
    ---><---

    As the access to this document is restricted, you may want to look for a different version below or

    for a different version of it.

    Other versions of this item:

    Citations

    Blog mentions

    As found by EconAcademics.org, the blog aggregator for Economics research:
    1. Can the Mortensen-Pissarides Model Match the Housing Market Facts?
      by Christian Zimmermann in NEP-DGE blog on 2013-05-23 05:59:53

    More about this item

    Keywords

    ;
    ;
    ;
    ;
    ;

    JEL classification:

    • R21 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - Housing Demand
    • R31 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Housing Supply and Markets
    • J63 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - Turnover; Vacancies; Layoffs

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eei:journl:v:56:y:2013:i:2:p:78-92. See general information about how to correct material in RePEc.

    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.

    We have no bibliographic references for this item. You can help adding them by using 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 RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Julia van Hove (email available below). General contact details of provider: https://edirc.repec.org/data/eeriibe.html .

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

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.