A Filtering Model with Steady-State Housing

Richard Arnott and Ralph M. Braid

No 79, CESifo Working Paper Series from CESifo

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