Can the Mortensen-Pissarides Model Match the Housing Market Facts?
This paper examines whether the Mortensen-Pissarides matching model can account for the housing markets facts, most of all the empirical anomaly known as ‘price dispersion’. Our main finding is that the model can account for the three basic facts of housing market, without any restrictive assumption and in a very simple framework.
|Date of creation:||01 Jan 2012|
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