دانلود مقاله ISI انگلیسی شماره 79908
ترجمه فارسی عنوان مقاله

پویایی بازار مسکن دارای تاخیر در بخش ساخت و ساز

عنوان انگلیسی
Housing market dynamics with delays in the construction sector ☆
کد مقاله سال انتشار تعداد صفحات مقاله انگلیسی
79908 2014 15 صفحه PDF
منبع

Publisher : Elsevier - Science Direct (الزویر - ساینس دایرکت)

Journal : Journal of Housing Economics, Volume 26, December 2014, Pages 94–108

ترجمه کلمات کلیدی
قیمت خانه؛ مجوزهای ساخت و ساز - تاخیر ساخت و ساز؛ شوک های عرضه
کلمات کلیدی انگلیسی
House prices; Building permits; Construction delays; Supply shocksR21; R31
پیش نمایش مقاله
پیش نمایش مقاله  پویایی بازار مسکن دارای تاخیر در بخش ساخت و ساز

چکیده انگلیسی

Housing supply is subject to several types of delays. On average, it takes 6 months to get approved for a residential building permit and another 2–4 quarters to complete a construction project. We present a simple two-sector model that incorporates these observations and show that the effect of these delays is not uniform: while they amplify the response of house prices to demand shocks, they dampen the effects of housing supply shocks. Moreover, construction activity depends on the relative duration of the shocks and the construction delays: delays dampen construction booms following temporary shocks, but exaggerate building activity following permanent changes in demand or supply conditions. Our results highlight the importance of capturing the nature and the persistence of the shocks when studying the effects of construction sector delays on housing market dynamics.