LAZEAR, EDWARD P. - In: The Singapore Economic Review (SER) 57 (2012) 02, pp. 1250007-1
Inventories and price changes are correlated. The inverse relation is most obvious in housing where inventories build in low-demand markets and shrink in high-demand markets. This is a puzzle. Symmetry of information among buyers and sellers would seem to imply that sellers would change their...