Rethinking Housing with Agent-Based Models: Models of the Housing Bubble and Crash in the Washington DC Area 1997-2009
Date
2017
Authors
Goldstein, Jonathan D.
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Abstract
This dissertation presents a series of related agent-based models (ABMs) of the housing market in the Washington DC Metropolitan Statistical Area. The models investigate the causes of the housing market bubble and crash during the time period 1997-2009 and policies that could have avoided such a crisis. The work in this dissertation contributes to three research areas: understanding the underlying causes of the housing crisis, demonstrating the ability of ABMs to generate important macro phenomena, and improving ABM methodology.
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Keywords
Economics, Computer science, Agent-Based Model, Asset Bubble, Financial crisis, Housing, Real Estate, Simulation