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Real Options Effect of Uncertainty and Labor Demand Shocks on the Housing Market

Lee, Gabriel, Nguyen Thanh, Binh and Strobel, Johannes (2016) Real Options Effect of Uncertainty and Labor Demand Shocks on the Housing Market. Working Paper.

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Date of publication of this fulltext: 16 Feb 2017 07:16

Abstract

This paper shows that uncertainty affects the housing market in two significant ways. First, uncertainty shocks adversely affect housing prices but not the quantities that are traded. Controlling for a broad set of variables in fixed-effects regressions, we find that uncertainty shocks reduce housing prices and median sales prices in the amount of 1.4% and 1.8%, respectively, but the effect is ...

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Item type:Monograph (Working Paper)
Date:16 December 2016
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)
Keywords:Bartik labor demand shocks; time-varying uncertainty shocks; real options effects; housing market
Dewey Decimal Classification:300 Social sciences > 330 Economics
Status:Unknown
Refereed:Unknown
Created at the University of Regensburg:Yes
Item ID:35233
Owner only: item control page

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