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Who Bears the Burden of Real Estate Transfer Taxes? Evidence from the German Housing Market
Dolls, Mathias; Fuest, Clemens; Krolage, Carla; … - 2021
This paper examines the effects of real estate transfer taxes (RETT) on property prices using a rich micro dataset of roughly 17 million German properties for the period from 2005 to 2019. We exploit a 2006 constitutional reform that allows states to set their own RETT rates, leading to frequent...
Persistent link: https://www.econbiz.de/10013250043
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The Short-Run and Long-Run Effects of Trade Openness on Financial Development : Some Panel Evidence for Europe
Caporale, Guglielmo Maria; Sova, Anamaria; Sova, Robert - 2021
This paper analyses the short- and long-run effects of trade openness on financial development in a panel including …
Persistent link: https://www.econbiz.de/10013227601
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Interest Rate Linkages in EMU Countries : A Rolling Threshold Vector Error-Correction Approach
Poghosyan, Tigran; de Haan, Jakob - 2021
This paper revisits financial market integration in the European Economic and Monetary Union, using a threshold vector error-correction model (TVECM) for a fixed rolling window. This approach enables us to analyze the dynamics of transaction costs and detect any co-movements with (policy...
Persistent link: https://www.econbiz.de/10013316906
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Forecasting with Panel Data : Estimation Uncertainty Versus Parameter Heterogeneity
Pesaran, M. Hashem; Pick, Andreas; Timmermann, Allan - 2022
We develop novel forecasting methods for panel data with heterogeneous parameters and examine them together with …-sectional (N) and time (T) dimensions and varying degrees of parameter heterogeneity. We investigate conditions under which panel … forecasting methods can perform better than forecasts based on individual estimates and demonstrate how gains in predictive …
Persistent link: https://www.econbiz.de/10013292495
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Redrawing of a Housing Market : Insurance Payouts and Housing Market Recovery in the Wake of the Christchurch Earthquake of 2011
Nguyen, Cuong - 2020
On the 22nd of February 2011, much of the residential housing stock in the city of Christchurch, New Zealand, was damaged by an unusually destructive earthquake. Almost all of the houses were insured. We ask whether insurance was able to mitigate the damage adequately, or whether the damage from...
Persistent link: https://www.econbiz.de/10012822499
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Effects of Housing Transfer Taxes on Household Mobility
Eerola, Essi - 2019
Housing transfer taxes are fiscally important in many countries despite evidence of substantial welfare losses found in several quasi-experimental studies. Research designs used in this prior literature are prone to attenuation bias due to spillovers from mobility or trading across control and...
Persistent link: https://www.econbiz.de/10012865921
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Intratemporal Nonseparability between Housing and Nondurable Consumption : Evidence from Reinvestment in Housing Stock
Khorunzhina, Natalia - 2019
Using the data on maintenance expenditures and self-assessed house value, I separate the measure of individual housing stock and house prices, and use these data for testing whether nondurable consumption and housing are characterized by intratemporal nonseparability in households' preferences....
Persistent link: https://www.econbiz.de/10012866381
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Housing Market Expectations
Kuchler, Theresa; Piazzesi, Monika; Stroebel, Johannes - 2022
We review the recent literature on the determinants and effects of housing market expectations. We begin by providing an overview of existing surveys that elicit housing market expectations, and discuss how those surveys may be expanded in the future. We then document a number of facts about...
Persistent link: https://www.econbiz.de/10013293032
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Why Do Buyers Pay Different Prices for Comparable Products? Evidence from the Housing Market
Siebert, Ralph - 2020
We focus on the housing market and examine why nonlocal home buyers (NLBs) pay 15 percent more for houses than local home buyers (LBs). We estimate a housing demand model that returns heterogeneous willingness to pay parameters for housing attributes. Our results show that NLBs are willing to...
Persistent link: https://www.econbiz.de/10012832077
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Limited Attention in the Housing Market : Threshold Effects of Energy-Performance Certificates on Property Prices and Energy-Efficiency Investments
Sejas-Portillo, Rodolfo; Comerford, David; Moro, Mirko; … - 2021
We study the effects of limited attention on property prices and energy efficiency (EE) investments in the housing market. Using a novel dataset, we analyse over 5 million residential property sale transactions in England and Wales, each containing information about sale price, property and...
Persistent link: https://www.econbiz.de/10013315011