What determines the price elasticity of house supply? real interest rate effects and cyclical asymmetries
Levin, Eric J.
What determines the price elasticity of house supply? real interest rate effects and cyclical asymmetries - 2009 - Housing Studies 24 (6) November 2009, 713-736(24) .
Paper discusses the price elasticity of supply. Seeks to establish the effect of long-term real interest rates. Explains that, when there is restrictive planning and market imperfections, changes in long real interests rates cause both house price rises and a low elasticity supply. Argues that changes in the financial system and increase of government regulation of the planning process aggravated cyclical asymmetries in the supply response.
United Kingdom--
What determines the price elasticity of house supply? real interest rate effects and cyclical asymmetries - 2009 - Housing Studies 24 (6) November 2009, 713-736(24) .
Paper discusses the price elasticity of supply. Seeks to establish the effect of long-term real interest rates. Explains that, when there is restrictive planning and market imperfections, changes in long real interests rates cause both house price rises and a low elasticity supply. Argues that changes in the financial system and increase of government regulation of the planning process aggravated cyclical asymmetries in the supply response.
United Kingdom--