Relating International Trade to the Housing Market
2001; Wiley; Volume: 5; Issue: 2 Linguagem: Inglês
10.1111/1467-9361.00126
ISSN1467-9361
Autores Tópico(s)Housing Market and Economics
ResumoStudies of tariffs have tended to ignore their impact on housing markets. This paper builds a simple dynamic general‐equilibrium model to bridge the gap. The model is consistent with empirical findings that housing prices in several small open economies, and the price of nontradeables relative to tradeables, have increased over time. The model also allows closed‐form solutions of the elasticity of the economic growth rate, the housing‐stock growth rate, and the housing‐price growth rate, with respect to the tariff rate. Other testable implications are generated.
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