In this paper, we calculate a transaction–based price index for apartments in Paris (France). The heterogeneous character of real estate is taken into account using an hedonic model. The functional form is specified using a general Box–Cox function. The data basis covers 84 686 transactions...

Real estate is an important asset, but as direct investment linked with several difficulties. Shares of public open end funds or of real estate stock corporations represent a possible way for an investor to avoid these problems. The focus of this paper is the inflation risks of European real...

In this paper, we calculate a transaction based price index for apartments in Paris (France). The heterogeneous character of real estate is taken into account by using a multiple regression model. The functional form is specified using a general Box/Cox-function. The data base covers about 65%...

The focus of this article is the analysis of the inflation risk of European real estate securities. Following both a causal and a final understanding of risk, the analysis is twofold. First, to examine the causal influence of inflation on short- and long-term asset returns, different regression...

Real estate is an important asset, but as a direct investment subject to several difficulties. Shares of public open end funds or of real estate stock corporations represent a possible way for an investor to avoid these problems. The focus of this paper is the analysis of inflation risk of...

This paper analyzes the relation between demographic structure and real asset returns on treasury bills, bonds, stocks and real estate for the G7-countries (United States, Canada, Japan, Italy, France, the United Kingdom and Germany). Based on a macroeconomic multifactor model, a variety of...