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Rational Housing Bubble

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NBER2013-08-01 更新2025-01-04 收录
下载链接:
https://www.nber.org/papers/w19354
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This paper studies an economy inhabited by overlapping generations of homeowners and investors, with the only difference between the two being that homeowners derive utility from housing services whereas investors do not. Tight collateral constraint limits the borrowing capacity of homeowners and
创建时间:
2013-08-01
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