Articles liés à Market structure and cycles: The case of housing markets

Market structure and cycles: The case of housing markets - Couverture souple

Saether, Jan Petter

 
9783639332964: Market structure and cycles: The case of housing markets
Couverture souple
ISBN 10 : 3639332962 ISBN 13 : 9783639332964
Editeur : VDM Verlag Dr. Müller, 2011

Synopsis

Cycles in housing markets occur in recurrent and irregular patterns. The amplitude of these cycles is usually considerably larger compared to the general business cycles. Furthermore, housing market cycles have considerably longer wavelengths compared to the business cycle. Housing market cycles often affect the whole economy heavily, which is a good reason for trying to keep the housing market free from cycles. In general the underlying mechanisms for housing market cycles are not widely understood. Housing market models usually employs a set of variables such as change in GDP, interest rates, population migration and growth and housing construction activity, mixed together in some kind of econometric model. However, such models fail in not taking feedback, delays and information chains properly into consideration. In this sense the System Dynamics method is a useful tool for revealing the housing market's structure and its behaviour in order to change the structure in order to prevent or dampen cyclicality. The current work employs the System Dynamics method in order to attempt to explain the sources of cycles and possible instruments to avoid them.

Les informations fournies dans la section « Synopsis » peuvent faire référence à une autre édition de ce titre.

Présentation de l'éditeur

Cycles in housing markets occur in recurrent and irregular patterns. The amplitude of these cycles is usually considerably larger compared to the general business cycles. Furthermore, housing market cycles have considerably longer wavelengths compared to the business cycle. Housing market cycles often affect the whole economy heavily, which is a good reason for trying to keep the housing market free from cycles. In general the underlying mechanisms for housing market cycles are not widely understood. Housing market models usually employs a set of variables such as change in GDP, interest rates, population migration and growth and housing construction activity, mixed together in some kind of econometric model. However, such models fail in not taking feedback, delays and information chains properly into consideration. In this sense the System Dynamics method is a useful tool for revealing the housing market's structure and its behaviour in order to change the structure in order to prevent or dampen cyclicality. The current work employs the System Dynamics method in order to attempt to explain the sources of cycles and possible instruments to avoid them.

Biographie de l'auteur

Cand. oecon. (~M. Sc. in Economics), University of Oslo, and M. Ph. in System Dynamics, University of Bergen. Previous positions at The Institute of Transport Research, Norway, Telenor and The Norwegian Post and Telecommunications Authority. Current position as adviser at Statistics Norway.

Les informations fournies dans la section « A propos du livre » peuvent faire référence à une autre édition de ce titre.

Éditeur
VDM Verlag Dr. Müller
Date d'édition
2011
Langue
anglais
ISBN 10 
3639332962
ISBN 13 
9783639332964
Reliure
Broché
Nombre de pages
140
Coordonnées du fabricant
non disponible
Personne responsable
non disponible