| 000 | 01553nab a2200265 c 4500 | ||
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| 999 |
_c149353 _d149353 |
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| 003 | ES-MaIEF | ||
| 005 | 20240509143149.0 | ||
| 007 | ta | ||
| 008 | 240509t2024 us ||||| |||| 00| 0|eng d | ||
| 040 |
_aES-MaIEF _bspa _cES-MaIEF |
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| 245 | 0 |
_aInterest rates and the spatial polarization of housing markets _c Francisco Amaral, Martin Dohmen, Sebastian Kohl and Moritz Schularick |
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| 500 | _aResumen. | ||
| 504 | _aBibliografía. | ||
| 520 | _aRising within-country differences in house values are a much-debated trend in the United States and internationally. Using new long-run regional data for 15 advanced economies, we show that standard explanations linking growing price dispersion to rent dispersion are contradicted by an important stylized fact: rent dispersion has increased far less than price dispersion. We propose a new explanation: a uniform decline in real risk-free interest rates can have heterogeneous spatial effects on house values. Falling real safe rates disproportionately push up prices in large agglomerations where initial rent-price ratios are low, leading to housing market polarization on the national level. | ||
| 650 | 4 |
_947502 _aINTERES |
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| 650 | 4 |
_948569 _aTIPOS |
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| 650 | 4 |
_948129 _aPRESTAMOS HIPOTECARIOS |
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| 650 | 4 |
_aVIVIENDA _948710 |
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| 650 | 4 |
_aPRECIOS _948092 |
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| 650 | 4 |
_aMERCADO _947725 |
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| 650 | 4 |
_aESTADOS UNIDOS _942888 |
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| 700 | 1 |
_971703 _aAmaral, Francisco |
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| 773 | 0 |
_9171653 _oOP 2145/2024/1 _tThe American Economic Review _x 2640-205X _g v. 6, n. 1, March 2024, p. 89-104 |
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| 942 | _cART | ||