Housing and macroeconomics
Martin Schneider and
Monika Piazzesi
No 11519, CEPR Discussion Papers from C.E.P.R. Discussion Papers
Abstract:
This paper surveys the literature on housing in macroeconomics. We first collect facts on house prices and quantities in both the time series and the cross section of households and housing markets. We then present a theoretical model of frictional housing markets with heterogeneous agents that nests or provides background for many studies. Finally, we describe quantitative results obtained during the last 15 years on household behavior, business cycle dynamics and asset pricing, as well as boom bust episodes.
JEL-codes: E2 E3 E4 G1 R2 R3 (search for similar items in EconPapers)
Date: 2016-09
New Economics Papers: this item is included in nep-mac and nep-ure
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Citations: View citations in EconPapers (185)
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Chapter: Housing and Macroeconomics (2016) 
Working Paper: Housing and Macroeconomics (2016) 
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