Booms and busts in a housing market with heterogeneous agents
We develop a dynamic partial equilibrium model of the housing market, where the dynamics of the house price is determined by the interaction between chartists and fundamentalists. The model endogenously generates episodes of boom and bust in the house price and can replicate the recent US house pric...
| 主要な著者: | , , |
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| フォーマット: | Journal article |
| 出版事項: |
Cambridge University Press
2016
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