{"id":"https://openalex.org/W1827476111","doi":"https://doi.org/10.2139/ssrn.2585241","title":"The Role of Speculation in Real Estate Cycles","display_name":"The Role of Speculation in Real Estate Cycles","publication_year":2015,"publication_date":"2015-01-01","ids":{"openalex":"https://openalex.org/W1827476111","doi":"https://doi.org/10.2139/ssrn.2585241","mag":"1827476111"},"language":"en","primary_location":{"id":"doi:10.2139/ssrn.2585241","doi":"https://doi.org/10.2139/ssrn.2585241","is_oa":true,"landing_page_url":"https://doi.org/10.2139/ssrn.2585241","pdf_url":null,"source":{"id":"https://openalex.org/S4210172589","display_name":"SSRN Electronic Journal","issn_l":"1556-5068","issn":["1556-5068"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I1318003438","host_organization_name":"RELX Group (Netherlands)","host_organization_lineage":["https://openalex.org/I1318003438"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"posted-content"},"volume":null,"type":"preprint","is_traditional":true,"indexed_in":["crossref"],"open_access":{"is_oa":true,"oa_status":"green","oa_url":"https://doi.org/10.2139/ssrn.2585241","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5058342884","display_name":"Stephen Tipple Malpezzi","orcid":"https://orcid.org/0000-0003-0204-8318","observed_orcids":["https://orcid.org/0000-0003-0204-8318"]},"institutions":[{"id":"https://openalex.org/I135310074","display_name":"University of Wisconsin\u2013Madison","ror":"https://ror.org/01y2jtd41","country_code":"US","type":"education","lineage":["https://openalex.org/I135310074"]}],"countries":["US"],"is_corresponding":true,"raw_author_name":"Stephen Malpezzi","raw_affiliation_strings":["University of Wisconsin at Madison, 5257 Grainger Hall, Madison, WI 53706, United States","University of Wisconsin at Madison"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"University of Wisconsin at Madison, 5257 Grainger Hall, Madison, WI 53706, United States","institution_ids":["https://openalex.org/I135310074"]},{"raw_affiliation_string":"University of Wisconsin at Madison","institution_ids":["https://openalex.org/I135310074"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5016170402","display_name":"Susan M. W\u00e4chter","orcid":"https://orcid.org/0000-0002-4462-1728","observed_orcids":["https://orcid.org/0000-0002-4462-1728"]},"institutions":[{"id":"https://openalex.org/I79576946","display_name":"University of Pennsylvania","ror":"https://ror.org/00b30xv10","country_code":"US","type":"education","lineage":["https://openalex.org/I79576946"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Susan M. Wachter","raw_affiliation_strings":["University of Pennsylvania - Finance Department, The Wharton School, 3620 Locust Walk, Philadelphia, PA 19104, United States","University of Pennsylvania - Wharton School, Department of Real Estate, The Wharton School, 3620 Locust Walk, Philadelphia, PA 19104-6330, United States","University of Pennsylvania - Finance Department","University of Pennsylvania - Wharton School, Department of Real Estate"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"University of Pennsylvania - Finance Department, The Wharton School, 3620 Locust Walk, Philadelphia, PA 19104, United States","institution_ids":["https://openalex.org/I79576946"]},{"raw_affiliation_string":"University of Pennsylvania - Wharton School, Department of Real Estate, The Wharton School, 3620 Locust Walk, Philadelphia, PA 19104-6330, United States","institution_ids":["https://openalex.org/I79576946"]},{"raw_affiliation_string":"University of Pennsylvania - Finance Department","institution_ids":["https://openalex.org/I79576946"]},{"raw_affiliation_string":"University of Pennsylvania - Wharton School, Department of Real Estate","institution_ids":["https://openalex.org/I79576946"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":2,"corresponding_author_ids":["https://openalex.org/A5058342884"],"corresponding_institution_ids":["https://openalex.org/I135310074"],"apc_list":null,"apc_paid":null,"fwci":null,"has_fulltext":false,"cited_by_count":49,"citation_normalized_percentile":null,"cited_by_percentile_year":null,"biblio":{"volume":null,"issue":null,"first_page":null,"last_page":null},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10632","display_name":"Housing Market and Economics","score":0.9980000257492065,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10632","display_name":"Housing Market and Economics","score":0.9980000257492065,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T12137","display_name":"Economic theories and models","score":0.000699999975040555,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10007","display_name":"Monetary Policy and Economic Impact","score":0.0003000000142492354,"subfield":{"id":"https://openalex.org/subfields/2000","display_name":"General Economics, Econometrics and Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/speculation","display_name":"speculation","score":0.8169999718666077},{"id":"https://openalex.org/keywords/real-estate-cycles","display_name":"real estate cycles","score":0.9980000257492065},{"id":"https://openalex.org/keywords/housing-bubble","display_name":"housing bubble","score":0.6060000061988831},{"id":"https://openalex.org/keywords/price-volatility","display_name":"price volatility","score":0.6930000185966492},{"id":"https://openalex.org/keywords/price-elasticity-of-supply","display_name":"supply elasticity","score":0.6830000281333923},{"id":"https://openalex.org/keywords/real-estate-regulation","display_name":"real estate regulation","score":0.9160000085830688},{"id":"https://openalex.org/keywords/boom-bust-cycles","display_name":"boom-bust cycles","score":0.7960000038146973},{"id":"https://openalex.org/keywords/housing-demand","display_name":"housing demand","score":0.42100000381469727}],"concepts":[{"id":"https://openalex.org/C47941915","wikidata":"https://www.wikidata.org/wiki/Q107885","display_name":"Speculation","level":2,"score":0.9847594499588013},{"id":"https://openalex.org/C82279013","wikidata":"https://www.wikidata.org/wiki/Q684740","display_name":"Real estate","level":2,"score":0.7836769223213196},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.6618881225585938},{"id":"https://openalex.org/C141441539","wikidata":"https://www.wikidata.org/wiki/Q1970908","display_name":"Boom","level":2,"score":0.6525117754936218},{"id":"https://openalex.org/C91602232","wikidata":"https://www.wikidata.org/wiki/Q756115","display_name":"Volatility (finance)","level":2,"score":0.6095379590988159},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.48864108324050903},{"id":"https://openalex.org/C2778929795","wikidata":"https://www.wikidata.org/wiki/Q17489160","display_name":"Bust","level":3,"score":0.4830673038959503},{"id":"https://openalex.org/C106159729","wikidata":"https://www.wikidata.org/wiki/Q2294553","display_name":"Financial economics","level":1,"score":0.3742896318435669},{"id":"https://openalex.org/C139719470","wikidata":"https://www.wikidata.org/wiki/Q39680","display_name":"Macroeconomics","level":1,"score":0.17275762557983398},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.17020311951637268},{"id":"https://openalex.org/C87717796","wikidata":"https://www.wikidata.org/wiki/Q146326","display_name":"Environmental engineering","level":1,"score":0.0},{"id":"https://openalex.org/C127413603","wikidata":"https://www.wikidata.org/wiki/Q11023","display_name":"Engineering","level":0,"score":0.0}],"mesh":[],"locations_count":2,"locations":[{"id":"doi:10.2139/ssrn.2585241","doi":"https://doi.org/10.2139/ssrn.2585241","is_oa":true,"landing_page_url":"https://doi.org/10.2139/ssrn.2585241","pdf_url":null,"source":{"id":"https://openalex.org/S4210172589","display_name":"SSRN Electronic Journal","issn_l":"1556-5068","issn":["1556-5068"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I1318003438","host_organization_name":"RELX Group (Netherlands)","host_organization_lineage":["https://openalex.org/I1318003438"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"posted-content"},{"id":"pmh:oai:RePEc:wop:pennzl:401","doi":null,"is_oa":false,"landing_page_url":"http://realestate.wharton.upenn.edu/papers/full/401.pdf","pdf_url":"http://realestate.wharton.upenn.edu/papers/full/401.pdf","source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"preprint"}],"best_oa_location":{"id":"doi:10.2139/ssrn.2585241","doi":"https://doi.org/10.2139/ssrn.2585241","is_oa":true,"landing_page_url":"https://doi.org/10.2139/ssrn.2585241","pdf_url":null,"source":{"id":"https://openalex.org/S4210172589","display_name":"SSRN Electronic Journal","issn_l":"1556-5068","issn":["1556-5068"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I1318003438","host_organization_name":"RELX Group (Netherlands)","host_organization_lineage":["https://openalex.org/I1318003438"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"posted-content"},"sustainable_development_goals":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":false,"grobid_xml":false},"content_urls":null,"referenced_works_count":85,"referenced_works":["https://openalex.org/W6857667","https://openalex.org/W45629576","https://openalex.org/W136922230","https://openalex.org/W652389623","https://openalex.org/W1469046834","https://openalex.org/W1483302745","https://openalex.org/W1492434471","https://openalex.org/W1493376445","https://openalex.org/W1501350708","https://openalex.org/W1501669300","https://openalex.org/W1508947067","https://openalex.org/W1514968797","https://openalex.org/W1517909554","https://openalex.org/W1523713401","https://openalex.org/W1525322438","https://openalex.org/W1559234643","https://openalex.org/W1565826922","https://openalex.org/W1572864124","https://openalex.org/W1576634621","https://openalex.org/W1598071912","https://openalex.org/W1903787972","https://openalex.org/W1958762683","https://openalex.org/W1965895835","https://openalex.org/W1989039230","https://openalex.org/W1996477308","https://openalex.org/W1999131330","https://openalex.org/W2001981404","https://openalex.org/W2004142952","https://openalex.org/W2005089441","https://openalex.org/W2007636382","https://openalex.org/W2010868634","https://openalex.org/W2012531878","https://openalex.org/W2012861340","https://openalex.org/W2014020851","https://openalex.org/W2014077903","https://openalex.org/W2015502759","https://openalex.org/W2021941138","https://openalex.org/W2026435543","https://openalex.org/W2030020516","https://openalex.org/W2033731382","https://openalex.org/W2033872062","https://openalex.org/W2034431282","https://openalex.org/W2035046600","https://openalex.org/W2035782089","https://openalex.org/W2041305874","https://openalex.org/W2041789864","https://openalex.org/W2044876298","https://openalex.org/W2047825426","https://openalex.org/W2048644849","https://openalex.org/W2049743915","https://openalex.org/W2063715511","https://openalex.org/W2067581462","https://openalex.org/W2067733270","https://openalex.org/W2072811287","https://openalex.org/W2083308439","https://openalex.org/W2083793056","https://openalex.org/W2087545068","https://openalex.org/W2091710602","https://openalex.org/W2094395303","https://openalex.org/W2108061133","https://openalex.org/W2124408810","https://openalex.org/W2128406737","https://openalex.org/W2129145285","https://openalex.org/W2133953136","https://openalex.org/W2140333890","https://openalex.org/W2142540709","https://openalex.org/W2145139552","https://openalex.org/W2147332601","https://openalex.org/W2156804252","https://openalex.org/W2157989656","https://openalex.org/W2159449318","https://openalex.org/W2160308974","https://openalex.org/W2161679303","https://openalex.org/W2163862648","https://openalex.org/W2316737579","https://openalex.org/W2528422948","https://openalex.org/W2891521396","https://openalex.org/W2892079971","https://openalex.org/W3122342584","https://openalex.org/W3123137915","https://openalex.org/W3123631980","https://openalex.org/W3123884917","https://openalex.org/W3124270837","https://openalex.org/W3124312353","https://openalex.org/W4409104101"],"related_works":["https://openalex.org/W2188310228","https://openalex.org/W2354469243","https://openalex.org/W2362204705","https://openalex.org/W2019312282","https://openalex.org/W3123091327","https://openalex.org/W7215566504","https://openalex.org/W1994210821","https://openalex.org/W7052065489","https://openalex.org/W3124655146","https://openalex.org/W2063715511"],"abstract_inverted_index":null,"counts_by_year":[{"year":2025,"cited_by_count":2},{"year":2022,"cited_by_count":1},{"year":2021,"cited_by_count":1},{"year":2020,"cited_by_count":2},{"year":2019,"cited_by_count":5},{"year":2018,"cited_by_count":5},{"year":2016,"cited_by_count":4},{"year":2015,"cited_by_count":1},{"year":2014,"cited_by_count":6},{"year":2013,"cited_by_count":1}],"updated_date":"2026-11-09T13:22:03.289127","created_date":"2016-06-24T00:00:00"}
