Macroeconomic Effects of Over-investment in Housing in an Aggregative Model of Economic Activity

Is there a theoretical basis for the view that the end of a period of over-investment necessarily leads to a period of below-normal employment as the excess capital stock is run down? We study the repercussions of a false boom in housing driven by prior expectations of future housing prices not just...

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Bibliographic Details
Main Author: HOON, Hian Teck
Format: text
Language:English
Published: Institutional Knowledge at Singapore Management University 2010
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Online Access:https://ink.library.smu.edu.sg/soe_research/1241
https://ink.library.smu.edu.sg/context/soe_research/article/2240/viewcontent/CapitalismSociety_Hoon_Workingpaper.pdf
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Institution: Singapore Management University
Language: English

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