Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/87094
Authors: 
de Wit, Erik R.
Year of Publication: 
2010
Series/Report no.: 
Tinbergen Institute Discussion Paper 10-108/2
Abstract: 
Theoretical models on the selling process in the housing market are scarce. Taylor (1999) specifies a model where time-on-the-market gives a quality signal of the house to potential buyers if inspection outcomes of the house are not public. We specify a duration model with competing risks, where the competing risks are a sale or a withdrawal from the market. We use a unique administrative dataset from the Netherlands. We find negative duration dependence in the hazard of sale and positive duration dependence in the hazard of withdrawal confirming the empirical predictions from Taylor (1999).
Subjects: 
time-on-the-market
duration models
household finance
housing market
JEL: 
G12
C41
D14
R30
Document Type: 
Working Paper

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