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Housing Prices and Growth

Author

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  • James A. Kahn

    (Federal Reserve Bank of New York)

Abstract

and services, are a plausible candidate for explaining the large low-frequency changes in housing prices. We also argue that this interpretation is reasonable given the nature of the technology that produces housing services, and is in accord with the broad patterns in data on housing and land prices. We also explore the role of permanent changes in labor supply as an additional explanatory factor.

Suggested Citation

  • James A. Kahn, 2007. "Housing Prices and Growth," 2007 Meeting Papers 871, Society for Economic Dynamics.
    • Handle: RePEc:red:sed007:871
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    References listed on IDEAS

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    1. L. Rachel Ngai & Christopher A. Pissarides, 2007. "Structural Change in a Multisector Model of Growth," American Economic Review, American Economic Association, vol. 97(1), pages 429-443, March.
    2. Davis, Morris A. & Heathcote, Jonathan, 2007. "The price and quantity of residential land in the United States," Journal of Monetary Economics, Elsevier, vol. 54(8), pages 2595-2620, November.
    3. Mankiw, N. Gregory & Weil, David N., 1989. "The baby boom, the baby bust, and the housing market," Regional Science and Urban Economics, Elsevier, vol. 19(2), pages 235-258, May.
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    Cited by:

    1. Hoffmann, Mathias & Krause, Michael U. & Laubach, Thomas, 2012. "Trend growth expectations and U.S. house prices before and after the crisis," Journal of Economic Behavior & Organization, Elsevier, vol. 83(3), pages 394-409.
    2. Nobuhiro Kiyotaki & Alexander Michaelides & Kalin Nikolov, 2010. "Winners and Losers in House Markets," Working Papers 2010-5, Central Bank of Cyprus.
    3. Nobuhiro Kiyotaki & Alexander Michaelides & Kalin Nikolov, 2011. "Winners and Losers in Housing Markets," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 43, pages 255-296, March.

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