What Goes Up Must Come Down: The Relationship between the Housing Market Boom and the Subsequent Economic Downturn: Evidence from the MSA Level
Using MSA level data, the paper shows, that geographic areas which experienced the largest housing bubble generally suffered a more serious subsequent economic downturn. More specifically, the paper establishes that MSAs with larger declines in housing permits had larger increases in unemployment. T...
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| Format: | Others |
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Scholarship @ Claremont
2017
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| Online Access: | http://scholarship.claremont.edu/cmc_theses/1502 http://scholarship.claremont.edu/cgi/viewcontent.cgi?article=2537&context=cmc_theses |