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The effect of new housing supply in structural models: A forecasting performance evaluation
Girstmair, Stefan - 2024
This paper investigates the importance of including data on new housing supply in Dynamic Stochastic General … financial sector and real estate sector, they have largely overlooked housing supply. I develop an extended DSGE model that … includes both the financial sector and endogenous housing supply and show that forecasting accuracy significantly improves when …
Persistent link: https://www.econbiz.de/10014543686
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House Prices, Money, Credit and the Macroeconomy.
Goodhart, Charles; Hofmann, Boris - 2008
This paper assesses the linkages between money, credit, house prices and economic activity in industrialised countries over the last three decades. The analysis is based on a fixed-effects panel VAR estimated using quarterly data for 17 industrialized countries spanning the period 1970-2006. The...
Persistent link: https://www.econbiz.de/10011604934
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Do house price developments spill over across euro area countries? Evidence from a Global VAR
Hiebert, Paul; Vansteenkiste, Isabel - 2009
trade, financial markets, and general economic conditions. The application involves a Global VAR for three housing demand …
Persistent link: https://www.econbiz.de/10011605072
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Booms and busts in housing markets: determinants and implications
Agnello, Luca; Schuknecht, Ludger - 2009
Panel Probit model over the period 1980-2007. It finds that 1) most recent housing booms have been very persistent and of a …
Persistent link: https://www.econbiz.de/10011605117
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Relative house price dynamics across euro area and US cities: convergence or divergence?
Hiebert, Paul; Roma, Moreno - 2010
This paper examines the time varying dispersion in city house price levels across the four biggest euro area countries compared with those in the United States. Using available city-level data over the period 1987-2008, it tests for price convergence and analyses key factors explaining price...
Persistent link: https://www.econbiz.de/10011605252
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Forecasting and assessing Euro area house prices through the lens of key fundamentals
Gattini, Luca; Hiebert, Paul - 2010
central to the determination of euro area house prices in equilibrium and their dynamics: housing investment, real disposable … examining out-of-sample one- and two- step ahead forecasts. Moreover, the model suggests that euro area housing was overvalued … in recent years, implying a period of stagnation to bring housing valuation back in line with its modelled fundamentals …
Persistent link: https://www.econbiz.de/10011605295
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Booms and Busts in Housing Markets : Determinants and Implications
Agnello, Luca - 2009
Panel Probit model over the period 1980-2007. It finds that 1) most recent housing booms have been very persistent and of a …
Persistent link: https://www.econbiz.de/10013158164
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Relative House Price Dynamics Across Euro Area and US Cities : Convergence or Divergence?
Hiebert, Paul - 2010
This paper examines the time varying dispersion in city house price levels across the four biggest euro area countries compared with those in the United States. Using available city-level data over the period 1987-2008, it tests for price convergence and analyses key factors explaining price...
Persistent link: https://www.econbiz.de/10013142991
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Forecasting and Assessing Euro Area House Prices through the Lens of Key Fundamentals
Gattini, Luca - 2010
central to the determination of euro area house prices in equilibrium and their dynamics: housing investment, real disposable … examining out-of-sample one- and two- step ahead forecasts. Moreover, the model suggests that euro area housing was overvalued … in recent years, implying a period of stagnation to bring housing valuation back in line with its modelled fundamentals …
Persistent link: https://www.econbiz.de/10013138013
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Do House Price Developments Spill Over Across Euro Area Countries? Evidence from a Global VAR
Vansteenkiste, Isabel; Hiebert, Paul - 2021
trade, financial markets, and general economic conditions. The application involves a Global VAR for three housing demand …
Persistent link: https://www.econbiz.de/10013316405