Am 28. Januar 2014 veranstaltete das ifo Institut gemeinsam mit dem Bayerischen Handwerkstag ein Symposium unter dem Titel »Energiewende 2.0 – Was getan werden muss, um unsere Energieversorgung wieder auf ein sicheres Fundament zu stellen!«. Die Veranstaltung unter der Moderation von Ursula...

Deuten die aktuellen Preisanstiege auf den Immobilienmärkten auf eine Immobilienblase hin? Für Andreas Dombret, Deutsche Bundesbank, gehören Preisblasen an Immobilienmärkten zu den größten Risiken für die Finanzstabilität. Die Folgen derartiger Übertreibungen könnten...

Housing data from the last 25 years show that returns to residential real estate in the U.S. can be volatile and vary significantly among locations. The variations in returns are driven by economically as well as geographically and psychologically motivated factors, but so far, no asset pricing...

While true underlying home values are expected to be randomly distributed, actual residential listing prices tend to be highly clustered. Particularly, more than 75 % of the homes in our sample are associated with a round or “just below” round asking price. This study provides a theoretical...

В статье рассматриваются монетарные инструменты, применяемые монетарными регуляторами стран Еврозоны и США. Проанализированы научные исследования в области...

Rebalancing in Spain’s private sector is under way, but with more modest progress on reducing stocks. Spain is subject to significant spending pressures, reflecting unfavorable demographic trends and subdued growth prospects, and will require substantial structural reform. Priority...

DISCLAIMER: This Staff Discussion Note represents the views of the authors and does not necessarily represent IMF views or IMF policy. The views expressed herein should be attributed to the authors and not to the IMF, its Executive Board, or its management. Staff Discussion Notes are published...

A model of the term structure of lease rates in a frictionless economy is developed and its predictions are compared with data on residential leases in Japan. The model shows that the initial lease rate for a cancellable lease must be set higher than that for a non-cancellable lease because the...

This paper analyses the characteristics and functioning of real estate markets. It focuses on the relationship between developments in these markets and the financial sector to determine under what circumstances real estate booms and busts can develop and how they can affect the health and...