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House Price Fluctuations and Residential Sorting
Haavio, Markus; Kauppi, Heikki - 2009
Empirical evidence indicates local jurisdictions are internally more heterogeneous than standard sorting models predict. We develop a dynamic multi-region model, with fluctuating regional house prices, where an owner-occupying household's location choice depends on its current wealth and its...
Persistent link: https://www.econbiz.de/10012503002
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Interaction between housing prices and household borrowing - the Finnish case
Oikarinen, Elias - 2008
credit eases liquidity constraints of households, which is likely to lead to higher demand for housing. On the other hand … by households. It appears that there is no similar relationship between stock price movements and household borrowing …
Persistent link: https://www.econbiz.de/10012502983
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Empirical application of the housing-market no-arbitrage condition: problems, solutions and a Finnish case study
Oikarinen, Elias - 2008
The often used housing price-to-income and housing price-to-rent ratios are problematic in housing market analysis and may result in misleading conclusions. Instead, the no-arbitrage condition of housing market is a theoretically sound basis to evaluate if housing prices are misaligned....
Persistent link: https://www.econbiz.de/10012502993
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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 interest rate shock only, we investigate the...
Persistent link: https://www.econbiz.de/10012503010
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Regional differences in housing price dynamics: Panel data evidence
Oikarinen, Elias; Engblom, Janne - 2014
In this study, regional differences in housing price dynamics are examined empirically using panel data models. We concentrate on examining the momentum dynamics and the reversion speed towards fundamental price level. The analysis can be seen as a test for the validity of conventionally used...
Persistent link: https://www.econbiz.de/10012503048
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Assessing house prices in Germany : evidence from an estimated stock-flow model using regional data
Kajuth, Florian; Knetsch, Thomas A.; Pinkwart, Nicolas - 2013
Based on a stock-flow model of the housing market we estimate the relationship of house prices and explanatory macroeconomic variables in Germany using a regional panel dataset for 402 administrative districts. Using regional data exploits the variation across local housing markets and overcomes...
Persistent link: https://www.econbiz.de/10010202799
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The impact of borrower-based instruments on household vulnerability in Germany
Barasinska, Nataliya; Ludwig, Johannes; Vogel, Edgar - 2021 - This version: June 22, 2021
Excessive household borrowing has been identified as an important determinant of financial crises. Borrower-based macroprudential instruments have been proposed as a possible remedy. In Germany, two instruments have been available to macroprudential supervisors since 2017: a cap on the...
Persistent link: https://www.econbiz.de/10012589225
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Housing demand and tenure choice in Brazilian urban areas
Morais, Maria da Piedade; Cruz, Bruno de Oliveira - 2017
This paper analyzes the main determinants of tenure choice in Brazil in formal and informal housing markets. Logit and … Multinomial Logit models with several specifications are used to test the household's tenure choice behavior taking demographic … Survey (Pnad) microdata. The probability of ownership is higher among non-afrodescendents, man-headed households and public …
Persistent link: https://www.econbiz.de/10012061001
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A novel housing price misalignment indicator for Germany
Hertrich, Markus - 2019
From 2014 until present, housing prices in Germany have been rising faster than consumer prices in all quarters except one, raising concerns about an excessive over-heating of the housing market. To assess the vulnerability of the German housing market to a future realignment of prices or even a...
Persistent link: https://www.econbiz.de/10012098990
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Urban land markets and urban land development : an examination of three Brazilian cities : Brasília, Curitiba and Recife
Serra, Mozart Vitor; Dowall, David E.; Motta, Diana … - 2015
This paper synthesizes and extends the results of urban land market studies carried out in three Brazilian cities - Brasília, Curitiba and Recife. The purpose of the studies is to empirically assess the performance of urban land markets in different cities and to gauge the feasibility of...
Persistent link: https://www.econbiz.de/10012023973