Applying the AD-AS Model to the Housing Market of Post-Socialist Economies

Q2 Social Sciences
J. Łaszek, K. Olszewski
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引用次数: 0

Abstract

We propose applying the standard aggregate demand and aggregate supply model (AD-AS) to the housing market. It is a very simple and intuitive tool that can help shed light on the major forces at play in the market and that can supplement the use of the general equilibrium and dynamic stochastic equilibrium models (DSGE). The latter models are very sophisticated and aim to cover many aspects of the economy, but they require a significant number of long time series to estimate the model parameters. However, in many countries, such as post-socialist countries, the time series are short. Those models moreover cover only real house prices, but in certain situations we should consider real and nominal prices at the same time.
AD-AS模型在后社会主义经济住房市场中的应用
我们建议将标准的总需求和总供应模型(AD-AS)应用于住房市场。这是一个非常简单直观的工具,可以帮助揭示市场中的主要力量,并可以补充使用一般均衡和动态随机均衡模型(DSGE)。后一种模型非常复杂,旨在涵盖经济的许多方面,但它们需要大量的长时间序列来估计模型参数。然而,在许多国家,如后社会主义国家,时间序列很短。此外,这些模型只涵盖实际房价,但在某些情况下,我们应该同时考虑实际价格和名义价格。
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来源期刊
Critical Housing Analysis
Critical Housing Analysis Social Sciences-Sociology and Political Science
CiteScore
2.70
自引率
0.00%
发文量
6
期刊介绍: Critical Housing Analysis is a peer-reviewed academic journal focusing on critical and innovative housing research. The journal was launched in January 2014 and publishes two online issues annually. Critical Housing Analysis is published by the Institute of Sociology of the Czech Academy of Sciences. Critical Housing Analysis aims to provide on-line discussion space for researchers who come up with innovative, critical and challenging ideas and approaches in housing-related research. The unique function of this journal is to facilitate rapid feedback on critical and innovative ideas and methods developed by housing researchers around the world. We are especially keen to publish papers that provide: 1.Innovations in methods, theories and practices used in housing-related research. We especially welcome papers applying original research strategies (such as, mixed and interdisciplinary methods) and international comparisons with a strong sense for contextual and institutional differences. Papers should provide new and fresh research perspectives allowing a deeper understanding of housing markets, policies and systems. Innovations need to be justified but they could be “work in progress”, i.e. their findings may not yet have been fully verified. 2.Critiques of assumptions, methods and theories used in housing-related research. Such critical evaluations must be well-founded (empirically or by consistently logical argument) and convincing. However, there is no particular need to provide a solution to the problems that have been identified. 3.Critiques of applied housing practices and policies in particular cultural and institutional contexts, especially for those countries that are less represented in mainstream housing policy discourse. The critical assessment of policies must be analytical, should propose new perspectives and lead to wider policy implications.
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