A Filtering Model with Steady-State Housing

Richard Arnott () and Ralph M. Braid

No CESifo Working Paper No. 79, CESifo Working Paper Series from CESifo Group Munich

Abstract: This paper presents a filtering model of the housing market which is similar to Sweeney's (1974 b), except that the maintenance technology is such that housing can be maintained at a constant quality level as well as downgraded, and population at each income level grows continuously over time. In equilibrium, at each moment of time, some housing is allowed to deteriorate in quality, and other housing is maintained in a steady-state interval of qualities.

Date: 1995

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Working Paper: A Filtering Model with Steady-State Housing (1995)
Journal Article: A filtering model with steady-state housing (1997)
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