Moen, Espen R; Nenov, Plamen T. - C.E.P.R. Discussion Papers - 2014
unit. These two decisions are not independent, and their sequence may depend on the state of the housing market. This paper … shows how the sequence of buyer-seller decisions depends on, and in turn, affects housing market conditions in an … equilibrium search-and-matching model of the housing market. Under a simple payoff condition, we show that the decisions to ``buy …