| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w26457 |
| 来源ID | Working Paper 26457 |
| Economic Consequences of Housing Speculation | |
| Zhenyu Gao; Michael Sockin; Wei Xiong | |
| 发表日期 | 2019-11-18 |
| 出版年 | 2019 |
| 语种 | 英语 |
| 摘要 | By exploiting variation in state capital gains taxation as an instrument, we analyze the economic consequences of housing speculation during the U.S. housing boom in the 2000s. We find that housing speculation, anchored, in part, on extrapolation of past housing price changes, led not only to greater price appreciation, economic expansions, and housing construction during the boom in 2004-2006, but also to more severe economic downturns during the subsequent bust in 2007-2009. Our analysis supports supply overhang and local household demand as two key channels for transmitting these adverse effects. |
| 主题 | Macroeconomics ; Business Cycles ; Regional and Urban Economics ; Real Estate |
| URL | https://www.nber.org/papers/w26457 |
| 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/584129 |
| 推荐引用方式 GB/T 7714 | Zhenyu Gao,Michael Sockin,Wei Xiong. Economic Consequences of Housing Speculation. 2019. |
| 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 | ||
| w26457.pdf（1657KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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