Compared to other European countries, housing policy in Germany has been favourable towards private rented housing. As a result, the private rented housing sector in Germany is large according to international standards. It appears to be 'healthy' in terms of housing quality and social profile...

The paper analysis rental contracts in a two-period model of thehousing market with uncertain 'outside option', accounting for non-contractible mobility-cost and consumption indivisibilities. The mainndings are: (i) Bilaterally ecient contracts set rents which are lessvolatile than market rents...

This paper analyses rental contracts in the housing market assu-ming asymmetric information about tenant related `service cost' andimperfect mobility. On the positive side it explains why long standingtenants tend to enjoy lower rents |the so called `tenure discount'. Onthe normative side, it...

...The first section takes a brief look at the history of rent controls. Initially mostmeasures were aimed at preventing landlords from reaping what was perceived tobe a ‘windfall profit’ resulting from some sort of unexpected emergency. It alsodemonstrates the diversity of rent control...

This paper tests whether out-of-sample hedonic value predictions can be improved when a large urban housing market is divided into submarkets.

It is widely acknowledged that the recent generation of DSGE models failed to incorporate many of the liquidity and financial accelerator mechanisms revealed in the global financial crisis that began in 2007. This paper complements the papers presented at the 2009 BIS annual conference focused...

Der Anreiz einer Investition besteht im Erzieln einer angemessenen Rendite und im zukünftigen Vermögenszuwachs oder zumindest im Erhalt des Vermögenswertes. Bestrebungen zur Maximierung der Rendite führen zum Anstieg des damit verbundenen Risikos. Analog zu den Anlagekategorien Aktien und...