Can the Mortensen-Pissarides Model Match the Housing Market Facts?

Arbeitspapier

This paper examines whether the Mortensen-Pissarides matching model can account for the housing markets facts, most of all the empirical anomaly known as ‘price dispersion’. Our main finding is that the model can account for the three basic facts of housing market, without any restrictive assumption and in a very simple framework.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Series: EERI Research Paper Series ; No. 01/2012

Classification and Topics

• Classification: Wirtschaft ; Housing Supply and Markets ; Urban, Rural, Regional, Real Estate, and Transportation Economics: Housing Demand ; Market Structure, Pricing, and Design: General ; Search; Learning; Information and Knowledge; Communication; Belief; Unawareness
• Subject: House prices ; time-on-the-market ; housing price dispersion ; bargaining power ; search and matching frictions

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Lisi, Gaetano
• Event: Veröffentlichung
• (who): Economics and Econometrics Research Institute (EERI)
• (where): Brussels
• (when): 2012

Further information

• Handle: http://hdl.handle.net/10419/142630
• Last update: 10.03.2025, 11:43 AM CET