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A Filtering Model with Steady-State Housing

Author

Listed:
  • Richard J. Arnott
  • Ralph M. Braid

Abstract

This paper presents a filtering model of the housing market which is similar to Sweeney´s (1974 b), except that the maintenance technology is such that housing can be maintained at a constant quality level as well as downgraded, and population at each income level grows continuously over time. In equilibrium, at each moment of time, some housing is allowed to deteriorate in quality, and other housing is maintained in a steady-state interval of qualities.

Suggested Citation

  • Richard J. Arnott & Ralph M. Braid, 1995. "A Filtering Model with Steady-State Housing," CESifo Working Paper Series 79, CESifo.
    • Handle: RePEc:ces:ceswps:_79
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    Cited by:

    1. is not listed on IDEAS
    2. Liu, Liyi & McManus, Doug & Yannopoulos, Elias, 2022. "Geographic and temporal variation in housing filtering rates," Regional Science and Urban Economics, Elsevier, vol. 93(C).
    3. Michael Manville & Michael Lens & Paavo Monkkonen, 2022. "Zoning and affordability: A reply to Rodríguez-Pose and Storper," Urban Studies, Urban Studies Journal Limited, vol. 59(1), pages 36-58, January.
    4. Rosenthal, Stuart S., 2008. "Old homes, externalities, and poor neighborhoods. A model of urban decline and renewal," Journal of Urban Economics, Elsevier, vol. 63(3), pages 816-840, May.
    5. Sören Gröbel, 2018. "Regional heterogeneity in age-related housing depreciation rates [Regionale Heterogenität altersbedingter Wertminderungen von Wohnimmobilien]," Review of Regional Research: Jahrbuch für Regionalwissenschaft, Springer;Gesellschaft für Regionalforschung (GfR), vol. 38(2), pages 219-254, October.
    6. Reed, Robert R. & Ume, Ejindu S., 2019. "Housing, liquidity risk, and monetary policy," Journal of Macroeconomics, Elsevier, vol. 60(C), pages 138-162.
    7. Rosenthal, Stuart S. & Ross, Stephen L., 2015. "Change and Persistence in the Economic Status of Neighborhoods and Cities," Handbook of Regional and Urban Economics, in: Gilles Duranton & J. V. Henderson & William C. Strange (ed.), Handbook of Regional and Urban Economics, edition 1, volume 5, chapter 0, pages 1047-1120, Elsevier.
    8. Brzezicka, Justyna & Łaszek, Jacek & Olszewski, Krzysztof & Waszczuk, Joanna, 2019. "Analysis of the filtering process and the ripple effect on the primary and secondary housing market in Warsaw, Poland," Land Use Policy, Elsevier, vol. 88(C).
    9. repec:osf:socarx:u7hjv_v1 is not listed on IDEAS
    10. Lyndsey Rolheiser, 2021. "Old, small and unwanted: Post-war housing and neighbourhood socioeconomic status," Urban Studies, Urban Studies Journal Limited, vol. 58(14), pages 2952-2970, November.
    11. Kaneko, Mamoru & Ito, Tamon & Osawa, Yu-ichi, 2006. "Duality in comparative statics in rental housing markets with indivisibilities," Journal of Urban Economics, Elsevier, vol. 59(1), pages 142-170, January.
    12. Andrés Rodríguez-Pose & Michael Storper, 2022. "Dodging the burden of proof: A reply to Manville, Lens and Mönkkönen," Urban Studies, Urban Studies Journal Limited, vol. 59(1), pages 59-74, January.
    13. Andreas Mense, 2025. "The Impact of New Housing Supply on the Distribution of Rents," Journal of Political Economy Macroeconomics, University of Chicago Press, vol. 3(1), pages 1-42.
    14. Dominik Weiß & Claus Michelsen, 2011. "The improvement of housing conditions in post com-munist Germany – Market Mechanisms and Subsidy Impacts," ERSA conference papers ersa11p505, European Regional Science Association.
    15. Kindström, Gabriella & Liang, Che-Yuan, 2024. "Does new housing for the rich benefit the poor? On trickle-down effects of new homes," SocArXiv u7hjv, Center for Open Science.

    More about this item

    JEL classification:

    • R2 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis

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