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Risk Shocks and Housing Markets

Dorofeenko, Victor, Lee, Gabriel and Salyer, Kevin (2010) Risk Shocks and Housing Markets. IHS Working Paper 249, Wien.

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Date of publication of this fulltext: 12 Mar 2010 12:53

Other URL: http://ideas.repec.org/p/ihs/ihsesp/249.html


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)
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)
Related URLs:
E4, E5, E2, R2, R3Journal of Economics Literature Classification
Keywords:Agency costs, credit channel, time-varying uncertainty, residential investment, housing production, calibration
Dewey Decimal Classification:300 Social sciences > 330 Economics
Refereed:No, this version has not been refereed yet (as with preprints)
Created at the University of Regensburg:Yes
Item ID:13463
Owner only: item control page


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