Hajime Tomura - Latest

• December 21, 2008

  A Model of Housing Boom and Bust in a Small Open Economy

  Financial System Review - December 2008 Hajime Tomura

  Content Type(s): Publications, Financial System Review articles

• A Model of Housing Boom and Bust in a Small Open Economy

  Staff Working Paper 2008-9 Hajime Tomura

  This paper considers a dynamic stochastic general equilibrium model for a small open economy and finds that an improvement in the terms of trade causes a housing boom-bust cycle if the duration of the improvement is uncertain.

  Content Type(s): Staff research, Staff working papers Topic(s): Business fluctuations and cycles, Credit and credit aggregates JEL Code(s): E, E4, E44, F, F4, F41