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Internal and external determinants of housing price booms in Hong Kong, China
Taghizadeh-Hesary, Farhad; Yoshino, Naoyuki; Chiu, Alvin - 2019
Hong Kong, China's housing market witnessed dramatic appreciations recently, with the price index for private domestic housing units being 3 times higher than 10 years ago. This trend is supported by both internal and external factors, as illustrated in this paper. By providing a theoretical...
Persistent link: https://www.econbiz.de/10012007579
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Realwirtschaftliche Folgen von Vermögenspreisschwankungen : eine Kointegrationsanalyse für die Bundesrepublik Deutschland
Nastansky, Andreas - 2008 - 1. Auflage
Persistent link: https://www.econbiz.de/10003789486
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Downward nominal house price rigidity : evidence from three centuries of data on housing transactions
Erlandsen, Solveig K.; Juelsrud, Ragnar Enger - 2023
By analyzing housing data from the period 1850 to 2019 in Norway, we find evidence of downward nominal house price rigidity. More specifically, we document that there is a marked fraction of repeat-sales housing transactions with a zero nominal price change and show that this fraction increases...
Persistent link: https://www.econbiz.de/10013484725
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Stock Market Bubbles and Monetary Policy Effectiveness
Fullana, Olga - 2020
of restrictive monetary policy shocks coincides with the phase of the business cycle in which bubbles arise …
Persistent link: https://www.econbiz.de/10012855577
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Monetary policy and mispricing in stock markets
Beckers, Benjamin; Bernoth, Kerstin - 2016
asset pricing in line with rational bubbles. We show that the response of the excessive stock price component to a monetary …
Persistent link: https://www.econbiz.de/10011526074
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The risk of property bubbles in Hong Kong and Singapore : another aftershock crisis of the global financial Tsunami?
Yip, Paul S. L. - In: The Singapore economic review : journal of the Economic … 59 (2014) 3, pp. 1-53
Persistent link: https://www.econbiz.de/10010401148
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The real-time predictive content of asset price bubbles for macro forecasts
Beckers, Benjamin - 2015
price bubbles. Against this background, the paper evaluates if new advances in real-time bubble detection, as brought … the bubbles in the sample. Therefore, the paper suggests a combination approach of different bubble indicators which helps … to account for the uncertainty around start and end dates of asset price bubbles. Additionally, the paper then …
Persistent link: https://www.econbiz.de/10011300629
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Quantitative easing and exuberance in government bond markets : evidence from the ECB's Expanded Assets Purchase Program
Droes, Martijn; Lamoen, Ryan C. R. van; Mattheussens, Simona - 2017 - This version: 25 August 2017
This paper examines whether the ECB's Quantitative Easing (QE) policy is causing government bond prices to deviate from their fundamental value. We use a recent advance in the methodology to measure exuberant price behavior in financial time series introduced by Phillips et al. (2015). We extend...
Persistent link: https://www.econbiz.de/10011715916
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On Monetary Policy and Stock Market Anomalies
Kostakis, Alexandros - 2014
This study utilizes a macro-based VAR framework to investigate whether stock portfolios formed on the basis of their value, size and past performance characteristics are affected in a differential manner by unexpected US monetary policy actions during the period 1967-2007. Full sample results...
Persistent link: https://www.econbiz.de/10013068199
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The Fed and the Stock Market : A Tale of Sentiment States
Guo, Haifeng; Hung, Chi-Hsiou Daniel; Kontonikas, Alexandros - 2021
We analyze the period before the zero lower bound and show that the state of investor sentiment strongly affects the transmission of monetary policy to the stock market. The impact of Federal funds rate (FFR) surprises is mostly potent when sentiment-driven overvaluation is followed by a...
Persistent link: https://www.econbiz.de/10013221160