Thick-market Effects, Housing Heterogeneity, and the Determinants of Transaction Seasonality
利用挪威交易数据，研究发现住房异质性越强，交易季节性越明显，这支持了厚市场效应的存在。
This article uses cross‐sectional variation in transaction seasonality and a search‐theoretic framework to develop a test for thick‐market effects from matching efficiency. The test relates the extent of transaction seasonality to the degree of horizontal housing heterogeneity. We find a strong positive association between measures of seasonality and housing heterogeneity using a transaction level dataset for Norway, which is consistent with the presence of thick‐market effects. These results also show that the degree of horizontal heterogeneity of the housing stock is an important determinant of the extent of seasonality in a housing market.