The cyclical behavior of the Beveridge Curve in the housing market
This paper develops a business cycle model of the housing market with search frictions and entry of both buyers and sellers. The housing market exhibits a well-established cyclical component, which features three stylized facts: prices move in the same direction as sales and the number of houses for...
Main Authors: | , |
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Format: | Article |
Language: | English |
Published: |
Academic Press Inc.
2019
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Subjects: | |
Online Access: | View Fulltext in Publisher |