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Replication data for: Hot and Cold Seasons in the Housing Market

Version
V0
Resource Type
Dataset
Creator
  • Ngai, L. Rachel
  • Tenreyro, Silvana
Publication Date
2014-12-01
Description
  • Abstract

    Every year housing markets in the United Kingdom and the United States experience systematic above-trend increases in prices and transactions during the spring and summer ("hot season") and below-trend falls during the autumn and winter ("cold season"). House price seasonality poses a challenge to existing housing models. We propose a search-and-matching model with thick-market effects. In thick markets, the quality of matches increases, rising buyers' willingness to pay and sellers' desire to transact. A small, deterministic driver of seasonality can be amplified and revealed as deterministic seasonality in transactions and prices, quantitatively mimicking seasonal fluctuations in UK and US markets. (JEL C78, R21, R31)
Availability
Download
Relations
  • Is supplement to
    DOI: 10.1257/aer.104.12.3991 (Text)
Publications
  • Ngai, L. Rachel, and Silvana Tenreyro. “Hot and Cold Seasons in the Housing Market.” American Economic Review 104, no. 12 (December 2014): 3991–4026. https://doi.org/10.1257/aer.104.12.3991.
    • ID: 10.1257/aer.104.12.3991 (DOI)

Update Metadata: 2020-05-18 | Issue Number: 2 | Registration Date: 2019-10-12

Ngai, L. Rachel; Tenreyro, Silvana (2014): Replication data for: Hot and Cold Seasons in the Housing Market. Version: V0. ICPSR - Interuniversity Consortium for Political and Social Research. Dataset. https://doi.org/10.3886/E112715