This paper analyzes the development of housing market imbalances, housing prices and residential investment in Switzerland within a stock-flow framework. In the long run, the desired level of residential capital stock and the existing residential capital stock revert. Empirical results indicate,...

Does a "one model fits all" approach apply to the econometric modeling of regional house price determination? To answer this question, we utilize a panel of 100 US Metropolitan Statistical Areas over the period 1980q1-2010q2. For each area we estimate a separate cointegrated VAR model, focusing...

In most applications of complete systems of demand functions to national accounts data it is implicitly assumed that the demand functions are identified. For post-war Sweden this is not an altogether good assumption because due to rent control there was an excess demand for housing. In this...

The objective of this article is to understand the main socioeconomic determinants of family cohabitation and new household formation by young adults in Brazilian urban areas. Methodologically, the study adapts the models of De Vos (1989) and Granado and Castillo (2002) to the Brazilian case,...

This paper analyzes the main determinants of tenure choice in Brazil in formal and informal housing markets. Logit and Multinomial Logit models with several specifications are used to test the household's tenure choice behavior taking demographic, social, economic and locational factors as...

Die Zinsen befinden sich in Deutschland seit mehr als sieben Jahren auf einem historisch niedrigen Niveau. Der Umstand, dass bislang sowohl die Kreditvergabe als auch der Immobilienmarkt als wichtigster Vermögensmarkt moderat auf die historisch niedrigen Zinsen reagiert haben, ist kein Grund...

We investigate the sources, scope, and implications of landowner market power. We show how zoning regulations generate spillovers through increased markups and derive conditions under which restricting landownership concentration reduces rents. Using newbuilding-level data from New York City, we...

From 2014 until present, housing prices in Germany have been rising faster than consumer prices in all quarters except one, raising concerns about an excessive over-heating of the housing market. To assess the vulnerability of the German housing market to a future realignment of prices or even a...

From September 2011 to January 2015, the Swiss National Bank (SNB) implemented a minimum exchange rate regime (i.e. a one-sided target zone) vis-a-vis the euro to fight deflationary pressures in the aftermath of the Great Financial Crisis. During this period of unconventional monetary policy,...

In spite of a growing recognition of the importance of supply conditions for the level and volatility of house prices, empirical work on housing supply outside the US is scarce. This paper considers various measures of housing supply in the Netherlands, where real house prices have roughly...