| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w19382 |
| 来源ID | Working Paper 19382 |
| Land Prices and Unemployment | |
| Zheng Liu; Jianjun Miao; Tao Zha | |
| 发表日期 | 2013-08-29 |
| 出版年 | 2013 |
| 语种 | 英语 |
| 摘要 | We integrate the housing market and the labor market in a dynamic general equilibrium model with credit and search frictions. The model is confronted with the U.S. macroeconomic time series. Our estimated model can account for two prominent facts observed in the data. First, the land price and the unemployment rate tend to move in opposite directions over the business cycle. Second, a shock that moves the land price is capable of generating large volatility in unemployment. Our estimation indicates that a 10 percent drop in the land price leads to a 0.34 percentage point increase of the unemployment rate (relative to its steady state). |
| 主题 | Macroeconomics ; Consumption and Investment ; Business Cycles ; Money and Interest Rates |
| URL | https://www.nber.org/papers/w19382 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/577057 |
| 推荐引用方式 GB/T 7714 | Zheng Liu,Jianjun Miao,Tao Zha. Land Prices and Unemployment. 2013. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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