Housing markets and vacant land

Article Abstract:

A partial equilibrium model of housing markets with vacant and built-up land was proposed. Construction on vacant land was argued to be done in finite time instead of asymptotically. In addition, vacant land was found to be a mere transitory phenomenon. The continued replacement of existing structures makes possible an adjustment to the average structural intensity upon the depreciation of housing stocks. This holds true even if construction encompasses all of the land.

Residential Buildings, Residential Building Construction, Administration of Conservation Programs, Land Use NEC, Research, Economic aspects, Residential construction, Housing development, Land use, Equilibrium (Economics)

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Ruling out speculative hyperinflations: the role of the government

Article Abstract:

A monetary model in which the presence of a monetary authority with well-specified preferences and policy instruments was sufficient to rule out all speculative hyperinflationary equilibria, was developed. Findings revealed that if government can impose taxes to support the currency, speculative hyperinflations are prevented in an equilibrium even if convertibility is never observed in an equilibrium.

Inflation (Finance), Monetary policy, Inflation (Economics)

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