What determines the price elasticity of house supply? real interest rate effects and cyclical asymmetries
Language: English Series: Housing Studies ; 24 (6) November 2009, 713-736(24)Publication details: 2009Subject(s): Summary: 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.| Item type | Current library | Call number | Copy number | Status | Barcode | |
|---|---|---|---|---|---|---|
| Journal article | London Journal article | L148923 (Browse shelf(Opens below)) | 1 | Available | 148923-1001 |
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.