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Can the Mortensen-Pissarides Model Match the Housing Market Facts?
EERI Research Paper Series from Economics and Econometrics Research Institute (EERI), Brussels
This paper examines whether the Mortensen-Pissarides matching model can account for the housing markets facts, most of all the empirical anomaly known as ‘price dispersion’. Our main finding is that the model can account for the three basic facts of housing market, without any restrictive assumption and in a very simple framework.
Keywords: House prices; time-on-the-market; housing price dispersion; bargaining power; search and matching frictions. (search for similar items in EconPapers)
JEL-codes: R0 R31 R21 D40 D83 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-dge and nep-ure
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Downloads: (external link) http://www.eeri.eu/documents/wp/EERI_RP_2012_01.pdf (application/pdf)
Related works: Working Paper: Can the Mortensen-Pissarides Model Match the Housing Market Facts ? (2012) This item may be available elsewhere in EconPapers: Search for items with the same title.
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Persistent link: http://EconPapers.repec.org/RePEc:eei:rpaper:eeri_rp_2012_01
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