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Housing and Macroeconomics

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  • Charles Ka Yui LEUNG

Abstract

Until recently, the literature ignored the interactions between housing and macroeconomics. Thanks to many researchers' contributions, the macro-housing field is in development. This review complements previous research and highlights a few areas that have made significant progress lately. They are the rental market and related issues, housing affordability, people's beliefs and expectations, and the interactions between the aggregate and regional markets. Theoretical models have become increasingly realistic and hence can be solved only numerically. While the recent literature has provided essential policy lessons, it has yet delivered a "paradigm" for future research. There are also open questions that remain to be answered.

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  • Charles Ka Yui LEUNG, 2022. "Housing and Macroeconomics," ISER Discussion Paper 1197, Institute of Social and Economic Research, Osaka University.
    • Handle: RePEc:dpr:wpaper:1197
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    Cited by:

    1. José-Francisco Vergara-Perucich, 2022. "Is There Financialization of Housing Prices? Empirical Evidence from Santiago de Chile," Economies, MDPI, vol. 10(6), pages 1-14, May.
    2. Charles Ka Yui LEUNG, 2022. "Housing and Macroeconomics," ISER Discussion Paper 1197, Institute of Social and Economic Research, Osaka University.

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    JEL classification:

    • E10 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - General
    • G00 - Financial Economics - - General - - - General
    • R20 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - General

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