The Housing Boom and Bust: Model Meets Evidence

We build a model of the US economy with multiple aggregate shocks that generate fluctuations in equilibrium house prices. Through counterfactual experiments, we study the housing boom-bust around the Great Recession, with three main results. First, the main driver of movements in house prices and re...

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Bibliographische Detailangaben

Veröffentlicht in:	The Journal of political economy 2020-09, Vol.128 (9), p.3285-3345
Hauptverfasser:	Kaplan, Greg, Mitman, Kurt, Violante, Giovanni L.
Format:	Artikel
Sprache:	eng
Schlagworte:	Economic theory Expenditures Forgiveness Housing Housing prices Political economy Prices Rents Wealth
Online-Zugang:	Volltext
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