NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH
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Land Prices and Unemployment

Zheng Liu, Jianjun Miao, Tao Zha

NBER Working Paper No. 19382
Issued in August 2013

---- Acknowledgments ----

Critical comments from Larry Christiano have led to a significant improvement of this paper. We thank Marty Eichenbaum, Pat Higgins, Nir Jaimovich, Alejandro Justiniano, Monika Piazzesi, Pietro Peretto, Sergio Rebelo, Richard Rogerson, Martin Schneider, Lars Svensson, and seminar participants at Duke University, the European Central Bank, the Federal Reserve Banks of Atlanta, Chicago, and San Francisco, Goethe University, NBER Summer Institute, Northwestern-Tsinghua Macro Conference, the Sveriges Riksbank, University of Chicago, and University of Georgia for helpful discussions. The views expressed herein are those of the authors and do not necessarily reflect the views of the Federal Reserve Banks of Atlanta and San Francisco or the Federal Reserve System or the National Bureau of Economic Research.

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