BIBFRAME Work

Title

Land-price dynamics and macroeconomic fluctuations

Type

• Monograph
• Text

Contribution

• Wang, Pengfei (contributor)
• Zha, Tao (contributor)
• National Bureau of Economic Research (contributor)
• Liu, Zheng (author)

Language

• English

Classification

LCC: HB1 (Assigner: dlc) (Status: used by assigner)

Content

• text

Supplementary content

• bibliography

Summary

"We argue that positive co-movements between land prices and business investment are a driving force behind the broad impact of land-price dynamics on the macroeconomy. We develop an economic mechanism that captures the co-movements by incorporating two key features into a DSGE model: We introduce land as a collateral asset in firms' credit constraints and we identify a shock that drives most of the observed fluctuations in land prices. Our estimates imply that these two features combine to generate an empirically important mechanism that amplifies and propagates macroeconomic fluctuations through the joint dynamics of land prices and business investment"--National Bureau of Economic Research web site.

Authorized Access Point

Liu, Zheng. Land-price dynamics and macroeconomic fluctuations

Admin Metadata

• Date: 2026-09-11T20:21:06.366678+00:00
• Agent: cbc
• Status: c
• Derived from: 16900738

Admin Metadata

• Date: 2026-09-11
• Cataloger id: Unknown
• Description level: http://id.loc.gov/ontologies/bibframe-2-6-0/
• Description language: eng
• Description authentication: pcc