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|c 5.00 USD
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|z 9781498302722
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|a 1018-5941
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|a BD-DhAAL
|c BD-DhAAL
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|a Lian, Weicheng.
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|a Fundamental and Speculative Demands for Housing /
|c Weicheng Lian.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 2019.
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| 300 |
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|a 1 online resource (54 pages)
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|a IMF Working Papers
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|a <strong>Off-Campus Access:</strong> No User ID or Password Required
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|a <strong>On-Campus Access:</strong> No User ID or Password Required
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|a Electronic access restricted to authorized BRAC University faculty, staff and students
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|a This paper separates the roles of demand for housing services and belief about future house prices in a house price cycle, by utilizing a feature of user-cost-of-housing that it is sensitive to demand for housing services only. Optimality conditions of producing housing services determine user-cost-of-housing and the elasticity of substitution between land and structures in producing housing services. I find that the impact of demand for housing services on house prices is amplified by a small elasticity of substitution, and demand explained four fifths of the U.S. house price boom in the 2000s.
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|a Mode of access: Internet
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|a IMF Working Papers; Working Paper ;
|v No. 2019/063
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| 856 |
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/001/2019/063/001.2019.issue-063-en.xml
|z IMF e-Library
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