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Spatial Dependence in Commercial Property Prices : Micro Evidence from the Netherlands

Özyurt, Selin - 2014

Following a hedonic framework, this paper constructs various transaction-based commercial property price indicators for the Netherlands. Using quarterly data from the Investment Property Databank (IPD), the analysis covers a total of 10,000 listed properties over the period 2001-2011. The study...

Persistent link: https://www.econbiz.de/10013060537

Durable Goods, Price Indexes and Quality Change : An Application to Automobile Prices in Italy, 1988-1998

Tomat, Gian Maria - 2021

The paper analyzes the problems of measurement of durable consumer prices posed by quality change. Theoretical price indexes are defined and used to analyze several empirical methods of estimation of quality adjusted price indexes. The paper shows that hedonic regressions and other quality...

Persistent link: https://www.econbiz.de/10013320255

A New Optimum Currency Area Index for the Euro Area

Kunovac, Davor; Palenzuela, Diego Rodriguez; Sun, Yiqiao - 2022

We propose a new and time-varying optimum currency area (OCA) index for the euro area in assessing the evolution of the … index, nevertheless, shows that cyclical convergence among euro area members is not a steady process as it tends to be … index embarks on a recovery trajectory catching up with its pre-crisis level. Our OCA index is slow-moving and a good …

Persistent link: https://www.econbiz.de/10014076631

Accuracy and Determinants of Self-Assessed Euro Area House Prices

Le Roux, Julien - 2019

Using microdata from the second wave of the Household Finance and Consumption Survey, we investigate the accuracy of property values estimated by homeowners - so called “self-assessed” house prices - and explore the drivers of possible deviations of these prices from official hedonic house...

Persistent link: https://www.econbiz.de/10012859415

House Prices and Monetary Policy in the Euro Area : Evidence from Structural VARs

Nocera, Andrea - 2017

We use a Bayesian stochastic search variable selection structural VAR model to investigate the heterogeneous impact of housing demand shocks on the macro-economy and the role of house prices in the monetary policy transmission, across euro area countries. A novel set of identification...

Persistent link: https://www.econbiz.de/10012954350

Global Inflation : The Role of Food, Housing and Energy Prices

Parker, Miles - 2017

This paper studies the role of global factors in causing common movements in consumer price inflation, with particular focus on the food, housing and energy sub-indices. It uses a comprehensive dataset of 223 countries and territories collected from national and international sources. Global...

Persistent link: https://www.econbiz.de/10012962351

An Alternative Method for Identifying Booms and Busts in the Euro Area Housing Market

Gerdesmeier, Dieter - 2015

price index deviates excessively from the levels which would be implied by these economic fundamentals. In addition, a cross …

Persistent link: https://www.econbiz.de/10013036277

Monetary Policy, Housing Booms and Financial (Im) Balances

Eickmeier, Sandra - 2015

This paper uses a factor-augmented vector autoregressive model (FAVAR) estimated on U.S. data in order to analyze monetary transmission via private sector balance sheets, credit risk spreads and asset markets in an integrated setup and to explore the role of monetary policy in the three...

Persistent link: https://www.econbiz.de/10013038915

Business, Housing and Credit Cycles

Rünstler, Gerhard - 2016

We use multivariate unobserved components models to estimate trend and cyclical components in GDP, credit volumes and house prices for the U.S. and the five largest European economies. With the exception of Germany, we find large and long cycles in credit and house prices, which are highly...

Persistent link: https://www.econbiz.de/10012988605

Waking Up from the American Dream : On the Experience of Young Americans During the Housing Boom of the 2000s

Laeven, Luc - 2016

We exploit regional variations in house price fluctuations in the United States during the early to mid-2000s to study the impact of the housing boom on young Americans' choices related to home ownership, household formation, and fertility. We also introduce a novel instrument for changes in...

Persistent link: https://www.econbiz.de/10012988613