Endogenous Growth and Fluctuations in an Economy with a Housing Sector

Paulo M. B. Brito () and Alfredo Marvao Pereira ()

G.R.E.Q.A.M. from Universite Aix-Marseille III

Abstract: In this ppaer we extend the Uzawa-Lucas endogenous growth model by including housing along three directions: as a households' provider of services and application for savings, as a productive sector (construction), and as an input in education and training activities. The consequences of this extension are crucial: the long run growth rate, the structure of the balanced growth path and the transitional dynamics depend upon the parameters relating to housing.

Keywords: HOUSING; ECONOMIC GROWTH; BUSINESS CYCLES (search for similar items in EconPapers)
JEL-codes: O41 E32 R21 R31 (search for similar items in EconPapers)
Date: 1999

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