Bubbly booms and welfare

• المؤلفون الرئيسيون: DONG, Feng, JIAO, Yang, SUN, Haoning
• التنسيق: text
• اللغة: English
• منشور في: Institutional Knowledge at Singapore Management University 2024
• الموضوعات: Collateral effect; Credit constraint; Crowd-out effect; Housing bubble; Housing policies; Econometrics; Finance; Real Estate
• الوصول للمادة أونلاين: https://ink.library.smu.edu.sg/soe_research/2739; https://ink.library.smu.edu.sg/context/soe_research/article/3738/viewcontent/SSRN_id4502993.pdf
• المؤسسة: Singapore Management University

We show the competing effects of a housing bubble on the real economy by developing a multi-sector dynamic model with housing production. On the one hand, firms can sell or collateralize their housing, so a housing bubble helps firms obtain credit to finance their investment and expand production. O...