Housing and Macroeconomics
Charles Leung ()
MPRA Paper from University Library of Munich, Germany
Until recently, the literature ignored the interactions between housing and macroeconomics. Thanks to many researchers' contributions, the macro-housing field is in development. This review complements previous research and highlights a few areas that have made significant progress lately. They are the rental market and related issues, housing affordability, people's beliefs and expectations, and the interactions between the aggregate and regional markets. Theoretical models have become increasingly realistic and hence can be solved only numerically. While the recent literature has provided essential policy lessons, it has yet delivered a "paradigm" for future research. There are also open questions that remain to be answered.
Keywords: aggregate and regional shocks; belief and expectation; rental market; housing (search for similar items in EconPapers)
JEL-codes: E10 G00 R20 (search for similar items in EconPapers)
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Working Paper: Housing and Macroeconomics (2022)
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:115500
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