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Rational Housing Bubble
Zhao, Bo - 2013
terms of utility or rent. The model can be applied to China, where the housing bubble can be attributed to the rapid decline …
Persistent link: https://www.econbiz.de/10013077222
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A Nation of Gamblers : Real Estate Speculation and American History
Glaeser, Edward L. - 2013
The great housing convulsion that buffeted America between 2000 and 2010 has historical precedents, from the frontier land boom of the 1790s to the skyscraper craze of the 1920s. But this time was different. There was far less real uncertainty about fundamental economic and geographic trends,...
Persistent link: https://www.econbiz.de/10013086304
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Do Stock Prices Really Reflect Fundamental Values? The Case of Reits
Gentry, William M. - 2010
Real estate investment trust (REIT) stock prices deviate substantially from net asset values (NAV). Using REIT data since 1990, we find large positive excess returns to a strategy of buying stocks that trade at a discount to NAV, and shorting stocks trading at a premium to NAV. Estimated alphas...
Persistent link: https://www.econbiz.de/10012762561
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An Equilibrium Analysis of Real Estate
Grenadier, Steven R. - 2009
This paper provides a unified equilibrium approach to valuing a wide variety of commercial real estate lease contracts. Using a game-theoretic variant of real options analysis, the underlying real estate asset market is modeled as a continuous-time Nash equilibrium in which developers make...
Persistent link: https://www.econbiz.de/10012767771
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When Fast Growing Economies Slow Down : International Evidence and Implications for China
Eichengreen, Barry - 2011
, a level that China should achieve by or soon after 2015. Among our more provocative findings is that growth slowdowns …
Persistent link: https://www.econbiz.de/10013127765
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The Promise of Beijing : Evaluating the Impact of the 2008 Olympic Games on Air Quality
Chen, Yuyu - 2011
To prepare for the 2008 Olympic Games, China adopted a number of radical measures to improve air quality. Using …
Persistent link: https://www.econbiz.de/10013127978
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Firm Exports and Multinational Activity Under Credit Constraints
Manova, Kalina - 2011
sectoral pattern of multinational activity. Using detailed customs data from China, we show that foreign affiliates and joint …
Persistent link: https://www.econbiz.de/10013127980
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Monetary and Fiscal Stimuli, Ownership Structure, and China's Housing Market
Deng, Yongheng - 2011
, China's stimulus boosted real GDP growth from an annualized 6.2% in the first quarter of 2009 trough to 11.9% in the first … speed and efficacy of China's stimulus derives from state control over its banking system and corporate sector. Beijing …, fueling a real estate bubble; and that China's seemingly highly effective macroeconomic stimulus package may well have induced …
Persistent link: https://www.econbiz.de/10013128599
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Demographic Patterns and Household Saving in China
Curtis, Chadwick - 2011
This paper studies the effect that changing demographic patterns have had on the household saving rate in China. We …
Persistent link: https://www.econbiz.de/10013129127
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A Darwinian Perspective on "Exchange Rate Undervaluation"
Du, Qingyuan - 2011
biological desire for a marriage partner is strong. Empirically, we show that within China, those regions with a faster increase …
Persistent link: https://www.econbiz.de/10013130254