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housing and the business cycle

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  • Morris A. Davis

Abstract

Recent events have led to a renewed effort to understand the nature of cyclical fluctuations in the price and quantity of new investment in housing. This paper provides a brief summary of the existing literature modelling housing and the business cycle.

Suggested Citation

  • Morris A. Davis, 2010. "housing and the business cycle," The New Palgrave Dictionary of Economics,, Palgrave Macmillan.
    • Handle: RePEc:pal:dofeco:v:4:year:2010:doi:3831
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    9. Chang, Yongsung, 2000. "Comovement, excess volatility, and home production," Journal of Monetary Economics, Elsevier, vol. 46(2), pages 385-396, October.
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    15. Lawrence J. Christiano & Michele Boldrin & Jonas D. M. Fisher, 2001. "Habit Persistence, Asset Returns, and the Business Cycle," American Economic Review, American Economic Association, vol. 91(1), pages 149-166, March.
    16. Fernández-Villaverde, Jesús & Krueger, Dirk, 2011. "Consumption And Saving Over The Life Cycle: How Important Are Consumer Durables?," Macroeconomic Dynamics, Cambridge University Press, vol. 15(5), pages 725-770, November.
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    More about this item

    Keywords

    Cobb-Douglas preferences; expenditure shares; housing expenditures; multi-city models;
    All these keywords.

    JEL classification:

    • D61 - Microeconomics - - Welfare Economics - - - Allocative Efficiency; Cost-Benefit Analysis

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