Mean Reversion in Housing Markets
Booms in house prices are usually followed by busts. This pattern is called "mean reversion." Mean reversion in housing markets has historically coincided with economic recessions across the world. Chapter 1 establishes mean reversion in U.S. data, and attempts to explain it using the dyna...
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Language: | en_US |
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Harvard University
2014
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Online Access: | http://dissertations.umi.com/gsas.harvard:11404 http://nrs.harvard.edu/urn-3:HUL.InstRepos:12274618 |