An Extrapolative Model of House Price Dynamics
收藏NBER2015-03-01 更新2025-01-04 收录
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https://www.nber.org/papers/w21037
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A modest approximation by homebuyers leads house prices to display three features that are present in the data but usually missing from perfectly rational models: momentum at one-year horizons, mean reversion at five-year horizons, and excess longer-term volatility relative to fundamentals. Valuing
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美国国家经济研究局创建时间：
2015-03-01
