This paper asks if the dramatic fluctuations in Swedish single family house prices experienced over the last decade have only been driven by fundamental demand and supply factors or if they result also from speculative behaviour in the housing market. A restricted error-correction model of real...

The paper compares the dynamics of housing prices in fifteen OECD countries. The data reveal a remarkable degree of similarity across countries and suggest rich dynamics for the first-differenced real house prices, with a significant structure of autocorrelation.

This paper extends the VECM cointegration model and PT (permanent-transitory) variance decomposition framework proposed by Lettau & Ludvigson (2004) and applies them on the Swedish data spanning from 1980q1 to 2004q4. There are strong statistical evidences that the movements of aggregate...

The structural differences and the dynamics in prices on the second-hand market for family houses in large(Stockholm, Gothenburg and Malmo), medium-sized, small and industrial cities and sparsely populated areas are analysed in this paper. The basic house price data set used in the analysis...

The purpose of this paper is to estimate constant quality price trends and analysing factors determining market prices for MDCBs (multi-dwelling and commercial buildings) in Sweden. We use high quality data for housing and municipality attributes and our database consists of almost 8500...

In this paper we investigate the long-run and short-run relationship between housing investment and economic growth in China using the quarterly province-level panel data for the period 1999 q1 to 2007 q4. Recently developed econometric techniques for panel unit root testing and heterogeneous...