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De Vries, P. (author), Boelhouwer, P.J. (author)
The literature on housing markets suggests that house prices in almost all western economies can be explained by short-run demand-oriented variables and a long- run term. The basic principles of the theory are that the short-run fluctuations, which are based on recent price developments (shocks), occur due to market imperfection, while over the...
journal article 2009