In:
American Economic Review, American Economic Association, Vol. 102, No. 3 ( 2012-05-01), p. 53-58
Kurzfassung:
Systemic risk must include the housing market, though economists have not generally focused on it. We begin construction of an agent-based model of the housing market with individual data from Washington, DC. Twenty years of success with agent-based models of mortgage prepayments give us hope that such a model could be useful. Preliminary analysis suggests that the housing boom and bust of 1997-2007 was due in large part to changes in leverage rather than interest rates.
Materialart:
Online-Ressource
ISSN:
0002-8282
DOI:
10.1257/aer.102.3.53
Sprache:
Englisch
Verlag:
American Economic Association
Publikationsdatum:
2012
ZDB Id:
203590-X
ZDB Id:
2009979-4
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