Time to build and the real-options channel of residential investment
Sign Up to like & getrecommendations! Published in 2020 at "Journal of Financial Economics"
DOI: 10.1016/j.jfineco.2018.10.019
Abstract: A standard real-options model predicts that time-to-build investment could be delayed by uncertainty over future revenue. We quantify the first-order importance of this mechanism in the 2002–2011 housing boom-bust cycle by developing and estimating a… read more here.
Keywords: real options; build real; time build; investment ... See more keywords