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The recent global economic and financial crises are alarming in both severity and length. We study the anatomy of the collapse by comparing the current precipitant (housing crisis) with the previous U.S. housing crisis of the early 1990s. Our analysis suggests that the greater severity of this...
Persistent link: https://www.econbiz.de/10013142845
We estimate the transmission of the pandemic shock in 2020 to prices in the residential and commercial real estate market by causal machine learning, using new granular data at the municipal level for Germany. We exploit differences in the incidence of Covid infections or short-time work at the...
Persistent link: https://www.econbiz.de/10014236309
Almost four centuries later, the Dutch tulipmania of the 17th century is always mentioned as a mania and used as a reference point in the aftermath of contemporaneous economic and financial crises since the late 1990s. Studies investigating what drove the tulip speculation throughout 17th and...
Persistent link: https://www.econbiz.de/10012845807
Asset prices in general, and real house prices in particular, are often characterized by a nonlinear data-generating process which displays mildly explosive behavior in some periods. Here, we investigate the emergence of explosiveness in the dynamics of real house prices and the role played by...
Persistent link: https://www.econbiz.de/10012851645
We estimate the transmission of the pandemic shock in 2020 to prices in the residential and commercial real estate market by causal machine learning, using new granular data at the municipal level for Germany. We exploit differences in the incidence of Covid infections or short-time work at the...
Persistent link: https://www.econbiz.de/10013445569
We estimate the transmission of the pandemic shock in 2020 to prices in the residential and commercial real estate market by causal machine learning, using new granular data at the municipal level for Germany. We exploit differences in the incidence of Covid infections or short-time work at the...
Persistent link: https://www.econbiz.de/10014486607
We examine house price co-movements within and cross four major economic blocks: North America, Europe, Oceania and the Far East. The purpose of this study is to establish: (1) Whether there was increased house price correlation within a given economic block or across different blocks in the...
Persistent link: https://www.econbiz.de/10014178964
Using panel data from 17 countries with varying economic circumstances from 1974 to 2019, we estimate regression models that explain residential property price dynamics by incorporating demographic factors and considering the interaction of those demographics with credit conditions. Our results...
Persistent link: https://www.econbiz.de/10014078126
Real estate markets, including residential markets, are subject to cycles and are determined by local factors. This dependence is the result of local interactions of a variable demand and rigid short-term supply, which results from the relation between the real sector of the economy (real estate...
Persistent link: https://www.econbiz.de/10013003926
Real estate markets, including residential markets, are subject to cycles and are determined by local factors. This dependence is the result of local interactions of a variable demand and rigid short-term supply, which results from the relation between the real sector of the economy (real estate...
Persistent link: https://www.econbiz.de/10013003927