eprintid: 49890 rev_number: 6 eprint_status: archive userid: 1482 importid: 105 dir: disk0/00/04/98/90 datestamp: 2024-11-29 08:13:47 lastmod: 2024-11-29 08:13:47 status_changed: 2024-11-29 08:13:47 type: monograph metadata_visibility: show creators_name: Vanhapelto, Tuuli creators_name: Magnac, Thierry creators_id: thierry.magnac@tse-fr.eu creators_idrefppn: 278761666 creators_idrefppn: 032900279 creators_halaffid: 1002422 title: Housing Search and Liquidity in Spatial Equilibrium ispublished: pub subjects: subjects_ECO abstract: Local housing markets differ in their liquidity, the ease of transacting. Transacting is often easier in urban rather than rural locations, for example. To rationalize these liq-uidity differences, we set up a model of housing search in the cross-section of multiple interconnected local markets. Markets vary in structural characteristics, leading some to be in higher demand than others, which in turn affects equilibrium liquidity across local markets. Taking the model to data in Finland, we find that the housing market consists of very heterogeneous segments, and especially the value of housing services and the efficiency of the meeting technology matter for the cross-sectional variation in liquid-ity. Accounting for equilibrium buyer sorting is important: characteristics like the value of housing services affect liquidity both directly but also by attracting more prospective buyers into the market. date: 2024-11 date_type: published publisher: TSE Working Paper official_url: http://tse-fr.eu/pub/129936 faculty: tse divisions: tse language: en has_fulltext: TRUE view_date_year: 2024 full_text_status: public monograph_type: working_paper series: TSE Working Paper volume: 24-1596 place_of_pub: Toulouse pages: 79 institution: Université Toulouse Capitole department: Toulouse School of Economics book_title: TSE Working Paper oai_identifier: oai:tse-fr.eu:129936 harvester_local_overwrite: pending harvester_local_overwrite: note harvester_local_overwrite: department harvester_local_overwrite: creators_idrefppn harvester_local_overwrite: creators_halaffid harvester_local_overwrite: creators_id harvester_local_overwrite: institution harvester_local_overwrite: place_of_pub harvester_local_overwrite: pages oai_lastmod: 2024-11-28T09:03:43Z oai_set: tse site: ut1 citation: Vanhapelto, Tuuli and Magnac, Thierry (2024) Housing Search and Liquidity in Spatial Equilibrium. TSE Working Paper, n. 24-1596, Toulouse document_url: https://publications.ut-capitole.fr/id/eprint/49890/1/wp_tse_1596.pdf