| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w14605 |
| 来源ID | Working Paper 14605 |
| Trading Frictions and House Price Dynamics | |
| Andrew Caplin; John Leahy | |
| 发表日期 | 2008-12-23 |
| 出版年 | 2008 |
| 语种 | 英语 |
| 摘要 | We construct a model of trade with matching frictions. The model provides a simple characterization for the joint proces of prices, sales and inventory. We compare the implications of the model to certain properties of housing markets. The model can generate the large price changes and the positive correlation between prices and sales that we see in the data. Unlike the data, prices are negatively autocorrelated and high inventory predicts price appreciation. We investigate several amendments to the model. |
| 主题 | Microeconomics ; Economics of Information ; Macroeconomics ; Business Cycles |
| URL | https://www.nber.org/papers/w14605 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/572280 |
| 推荐引用方式 GB/T 7714 | Andrew Caplin,John Leahy. Trading Frictions and House Price Dynamics. 2008. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w14605.pdf（220KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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