House Price Momentum and Strategic Complementarity.
House prices exhibit substantially more momentum, positive autocorrelation in price changes, than existing theories can explain. I introduce an amplification mechanism to reconcile this discrepancy. Sellers do not set a unilaterally high or low list price because they face a concave demand curve: in...
| Publicado en: | Journal of Political Economy Vol. 126; no. 3; pp. 1172 - 1219 |
|---|---|
| Autor principal: | |
| Formato: | Artículo |
| Publicado: |
University of Chicago Press
Jun2018
|
| Materias: | |
| Acceso en línea: | Ver este registro en EBSCOhost |