Dorofeenko, Victor, Lee, Gabriel and Salyer, Kevin (2010) Risk Shocks and Housing Markets. IHS Working Paper 249, Wien.
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Abstract
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 housing production sector are a quantitatively important impulse mechanism for the business cycle. Also, we demonstrate that bankruptcy ...
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| Item type: | Monograph (UNSPECIFIED) | ||||
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| Date: | February 2010 | ||||
| Institutions: | Business, Economics and Information Systems > Institut für Volkswirtschaftslehre und Ökonometrie > Lehrstuhl für Immobilienökonomie (Prof. Dr. Gabriel Lee) Business, Economics and Information Systems > Institut für Immobilienenwirtschaft / IRE|BS > Lehrstuhl für Immobilienökonomie (Prof. Dr. Gabriel Lee) | ||||
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| Classification: |
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| Keywords: | Agency costs, credit channel, time-varying uncertainty, residential investment, housing production, calibration | ||||
| Dewey Decimal Classification: | 300 Social sciences > 330 Economics | ||||
| Status: | Published | ||||
| Refereed: | No, this version has not been refereed yet (as with preprints) | ||||
| Created at the University of Regensburg: | Yes | ||||
| Item ID: | 13463 |
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