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The reaction speeds of prices and transaction volume in the Finnish housing market to demand shocks
Oikarinen, Elias - 2009
This article provides new empirical evidence on the dynamics of price movements and transaction volume in the housing … market using data from Finland. While the previous related literature studies the reactions of sales volume and prices to an …-error correction model, the response of prices to demand shocks is found to be substantially slower than that of sales. The effect of a …
Persistent link: https://www.econbiz.de/10012503010
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The reaction speeds of prices and transaction volume in the Finnish housing market to demand shocks
Oikarinen, Elias - Turun Kauppakorkeakoulu, Turun Yliopisto - 2009
This article provides new empirical evidence on the dynamics of price movements and transaction volume in the housing … market using data from Finland. While the previous related literature studies the reactions of sales volume and prices to an …-error correction model, the response of prices to demand shocks is found to be substantially slower than that of sales. The effect of a …
Persistent link: https://www.econbiz.de/10008466891
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Economic Impacts of Cultural Diversity in the Netherlands: Productivity, Utility, and Sorting
Bakens, Jessie; Mulder, Peter; Nijkamp, Peter - 2012
This paper identifies the role of cultural diversity in explaining spatial disparities in wages and housing prices across Dutch cities, using unique individual panel data of home owners. We distinguish between the effects of interactions-based productivity, consumption amenities and sorting of...
Persistent link: https://www.econbiz.de/10010326320
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Self-reinforcing effects between housing prices and credit: an extended version
Anundsen, André K.; Jansen, Eilev S. - 2013
The financial crisis has brought the interaction between housing prices and household borrowing into the limelight of economic policy debate. This paper examines the nexus of housing prices and credit in Norway within a structural vector equilibrium correcting model (SVECM) over the period...
Persistent link: https://www.econbiz.de/10011968526
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Estimating a Stock-Flow Model for the Swiss Housing Market
Steiner, Elizabeth - In: Swiss Journal of Economics and Statistics 146 (2010) 3, pp. 601-627
This paper analyzes the development of housing market imbalances, housing prices and residential investment in Switzerland within a stock-flow framework. In the long run, the desired level of residential capital stock and the existing residential capital stock revert. Empirical results indicate,...
Persistent link: https://www.econbiz.de/10011933246
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The health consequence of rising housing prices in China
Xu, Yuanwei; Wang, Feicheng - 2020
China has experienced a rapid boom in real estate prices in the last few decades, leading toa substantial increase in living costs and heavy financial burdens on households. Usingan instrumental variable approach, this paper exploits spatial and temporal variation inhousing price appreciation...
Persistent link: https://www.econbiz.de/10012268761
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The Health Consequence of Rising Housing Prices in China
Xu, Yuanwei; Wang, Feicheng - 2020
China has experienced a rapid boom in real estate prices in the last few decades, leading to a substantial increase in living costs and heavy financial burdens on households. Using an instrumental variable approach, this paper exploits spatial and temporal variation in housing price appreciation...
Persistent link: https://www.econbiz.de/10012287858
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Local Labor Markets with Non-homothetic Preferences
Cardullo, Gabriele; Sechi, Agnese - 2023
We study the effects on employment, costs of living, and income inequality of local shocks in the housing market or in the productivity of a tradable good. We construct a two-region search and matching model in which housing is considered a necessity good. Mobility of labor implies that any...
Persistent link: https://www.econbiz.de/10014469463
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El precio de la vivienda en España tras el inicio de la crisis económica: Un análisis empírico
Torres-Tellez, Jonathan; Montero Soler, Alberto - In: Revista de Métodos Cuantitativos para la Economía y … 32 (2021), pp. 376-391
The objective of this research is to analyse the factors that have influenced on housing market in Spain after the beginning of the financial crisis. To this end, this investigation has used a fixed effect data panel covering from 2008 to 2016 for 17 Spanish regions, which has taken into...
Persistent link: https://www.econbiz.de/10014494472
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Identifying Booms and Busts in House Prices under Heterogeneous Expectations
Bolt, Wilko; Demertzis, Maria; Diks, Cees; Hommes, Cars; … - 2014
We introduce heterogeneous expectations in a standard housing market model linking housing rental levels to fundamental buying prices. Using quarterly data we estimate the model parameters for eight different countries, US, UK, NL, JP, CH, ES, SE and BE. We find that the data support...
Persistent link: https://www.econbiz.de/10010491386