| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w23030 |
| 来源ID | Working Paper 23030 |
| Arrested Development: Theory and Evidence of Supply-Side Speculation in the Housing Market | |
| Charles G. Nathanson; Eric Zwick | |
| 发表日期 | 2017-01-09 |
| 出版年 | 2017 |
| 语种 | 英语 |
| 摘要 | This paper studies the role of disagreement in amplifying housing cycles. Speculation is easier in the land market than in the housing market due to frictions that make renting less efficient than owner-occupancy. As a result, undeveloped land both facilitates construction and intensifies the speculation that causes booms and busts in house prices. This observation reverses the standard intuition that cities where construction is easier experience smaller house price booms. It also explains why the largest house price booms in the United States between 2000 and 2006 occurred in areas with elastic housing supply. |
| 主题 | Microeconomics ; Economics of Information ; Financial Economics ; Portfolio Selection and Asset Pricing ; Financial Markets ; Regional and Urban Economics ; Real Estate |
| URL | https://www.nber.org/papers/w23030 |
| 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/580703 |
| 推荐引用方式 GB/T 7714 | Charles G. Nathanson,Eric Zwick. Arrested Development: Theory and Evidence of Supply-Side Speculation in the Housing Market. 2017. |
| 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 | ||
| w23030.pdf（1618KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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