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- W2056532966 abstract "This study addresses intertemporal housing demand in the presence of transactions costs. The consumer solves a problem similar to a government′s calculation of the socially optimal level of a public good. Instead of the government′s optimizing across individuals, the consumer optimizes over time periods, subject to the constraint that housing consumption remains constant. The resulting immobility cost provides a latent variable that can be modeled and compared to moving costs in the move-stay decision. Housing demand, number of moves, and lengths of stay all emerge endogenously. Comparative statics results are derived, and simulation analysis shows the dynamic properties." @default.
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- W2056532966 date "1995-12-01" @default.
- W2056532966 modified "2023-09-27" @default.
- W2056532966 title "A Dynamic Equilibrium Model of Housing Demand and Mobility with Transactions Costs" @default.
- W2056532966 doi "https://doi.org/10.1006/jhec.1995.1015" @default.
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