Risk Shocks and Housing Markets

Research, Report, Preprint OPEN
Dorofeenko, Victor; Lee, Gabriel S.; Salyer, Kevin D.; (2010)
  • Publisher: Vienna: Institute for Advanced Studies (IHS)
  • Subject: R2 | credit channel | R3 | USA | Technischer Fortschritt | Agency costs, credit channel, time-varying uncertainty, residential investment, housing production, calibration | Wohnungsbau | Hypothek | ddc:330 | residential investment | Schätzung | calibration | Risikoprämie | 330 Wirtschaft | housing production | E2 | E4 | E5 | Entscheidung bei Unsicherheit | Immobilienpreis | agency costs | time-varying uncertainty | Zeitpräferenz
    • jel: jel:E2 | jel:E4 | jel:E5 | jel:R3 | jel:R2

This paper analyzes the role of uncertainty in a multi-sector housing model with financial frictions. We include time varying uncertainty (i.e. risk shocks) in the technology shocks that affect housing production. The analysis demonstrates that risk shocks to the housin... View more
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