Fundamental and Speculative Demands for Housing /
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-...
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| Format: | Journal |
| Language: | English |
| Published: |
Washington, D.C. :
International Monetary Fund,
2019.
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| Series: | IMF Working Papers; Working Paper ;
No. 2019/063 |
| Online Access: | Full text available on IMF |