There is a relatively recent, growing recognition about the importance of the interactive
nexus between and among housing markets and the macroeconomy. This paper provides a …

We propose a life-cycle model of the housing market with a property ladder and a credit
constraint. We focus on equilibria that replicate the facts that credit constraints delay some …

Housing markets clear partly through the time buyers and sellers spend on the market, and
the readiness with which they transact with each other. Applying a random matching model …

This paper examines the inflation in housing prices between 1998 and 2005 and
investigates whether this run-up in prices can be ''explained''by increases in demand …

Using data on 50 million home sales from the recent US housing cycle, we document that
much of the variation in volume came from the rise and fall in short-term speculation. Cities …

This paper reviews how central–local government conflicts pertaining to financial systems,
fiscal distribution and land usage have affected the property cycle in China over the past two …

This study applies wavelet analysis to examine the relationship between the US housing
and stock markets over the period 1890–2012. Wavelet analysis allows the simultaneous …

We use duration analysis to assess the impact of securitization, mortgage sector
liberalization and government involvement in housing finance on the length of housing …

This article summarizes research on the macroeconomic aspects of the housing market. In
terms of the macroeconomic stylized facts, this article demonstrates that with respect to …

The efficiency of a market is challenged when price dispersion occurs. Previous studies
focused on non-durable consumption goods. This study extends the analysis to the case of …