Davis, Morris; Heathcote, Jonathan - Federal Reserve Board (Board of Governors of the … - 2004
produce consumption, business investment and residential structures. New housing requires land in addition to new structures …Housing and the Business Cycle
Morris Davis
Federal Reserve Board
Jonathan Heathcote
∗
Georgetown University
November 1 … heterogeneous capital goods and in which business cycles
are driven by technology shocks have had trouble accounting for three sets …