A Theory of Liquidity in Residential Real Estate Markets

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How researchers see this paper

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Search, Liquidity and the Dynamics of House Prices and Construction (2014, background): “Combining (20) and (24), we have: rt m = t (Pt EtVt+1) : (28) We focus on equilibria in which construction is always positive, i.”
Illiquidity and Pricing Biases in the Real Estate Market (2007, neutral): “Krainer (2001) has a good discussion on “hot” and “cold” real estate markets.”
HOUSE PRICES, SALES, AND TIME ON THE MARKET: A SEARCH-THEORETIC FRAMEWORK (2013, neutral): “The literature that incorporates search frictions to study the housing market is large.4 Krainer (2001) builds a model where agents are also subject to idiosyncratic preference shocks and aggregate demand shocks.”
Price-volume Correlation in the Housing Market: Causality and Co-movements (2010, background): “More theories along this line are proposed by Krainer (2001) , Ortalo-Magne and Rady (2006), and Novy-Marx (2007).”
Directed Search in the Housing Market (2010, background): “3 Existence of Equilibrium In a separating equilibrium in which r > 0; (11) holds as an equality and the two nomimic conditions, inequalities (12) and (13), are both satised.”