Search, Liquidity, and the Dynamics of House Prices and Construction: Corrigendum
成果类型：
Article
署名作者：
Head, Allen; Lloyd-Ellis, Huw; Sun, Hongfei
署名单位：
Queens University - Canada
刊物名称：
AMERICAN ECONOMIC REVIEW
ISSN/ISSBN：
0002-8282
DOI：
10.1257/aer.106.4.1214
发表日期：
2016
页码：
1214-1219
关键词：
摘要：
In the course of our ongoing research, we have discovered two substantive errors in this article. These mistakes do not affect significantly either the qualitative nature of the results or any of the principal conclusions stated in the paper. They do, however, affect the specific quantitative results. One error affects the empirical findings presented primarily in Section I and the online Appendix. The other involves the calculation of sales of existing houses in artificial data generated by the model. This affects both the calibration (Section IV) and the equilibrium dynamics in Section V, principally with regard to the dynamics of sales. The article's quantitative results are presented through tables of statistics and figures depicting impulse responses. Virtually all of the specific numerical values in these tables and figures are affected, most only trivially, but some significantly. In this corrigendum, we describe the two errors and present corrected values and new versions for the statistics and figures most affected (we number the tables and figures as in the original article and the revised online Appendix). Updated, correct programs have replaced those containing the mistakes on the AER's website, and the revised online Appendix contains a complete set of corrected tables and figures.