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Changing supply elasticities and regional housing booms

Aastveit, Knut Are; Albuquerque, Bruno; Anundsen, … - 2019

in areas that experienced the sharpest housing busts. A lowering of the housing supply elasticity implies a strengthened …

Persistent link: https://www.econbiz.de/10011992859

Changing supply elasticities and regional housing booms

Aastveit, Knut Are; Albuquerque, Bruno Saboia de; … - 2019

Persistent link: https://www.econbiz.de/10012175819

Changing supply elasticities and regional housing booms

Aastveit, Knut Are; Albuquerque, Bruno; Anundsen, … - In: Journal of money, credit and banking : JMCB 55 (2023) 7, pp. 1749-1783

Persistent link: https://www.econbiz.de/10014436095

House prices and ultra-low interest rates : exploring the non-linear nexus

Dieckelmann, Daniel; Hempell, Hannah S.; Jarmulska, Barbara - 2023

especially pronounced at very low real interest rates. Most existing empirical studies estimate models with a constant semi-elasticity … estimate a panel model for the euro area countries with a constant interest rate elasticity (as opposed to a constant semi-elasticity …

Persistent link: https://www.econbiz.de/10013553574

House prices, disposable income and permanent and temporary shocks

Fraser, Patricia; Hoesli, Martin; McAlevey, Lynn - In: Journal of European Real Estate Research 5 (2012) 1, pp. 5-28

Purpose – The purpose of this paper is to compare responses of house prices in three important markets when faced with permanent and temporary shocks to income. It additionally decomposes each historical house price series into its permanent, temporary and deterministic components....

Persistent link: https://www.econbiz.de/10014862662

Geographic constraints and the housing supply elasticity in Germany

Beze, Eyayaw - 2023

The study estimates the housing supply elasticity and the impact of geographic constraints in Germany from 2008 … elasticity of 0.22 and a units elasticity of 0.25. The study also reveals that geographical constraints partially affect the … housing supply elasticity across districts. Notably, high development intensity decreases the elasticity, while the …

Persistent link: https://www.econbiz.de/10014228596

The credit risk premium in a disaster-prone world

Zhu, Yanhui (contributor); Copeland, Laurence S. (contributor) - 2008

The seminal Barro (2006) closed-economy model of the equity risk premium in the presence of extreme events ("disasters") allowed for leverage in the form of risky corporate debt which defaulted only in states when the Government defaulted on its debt. The probability of default was therefore...

Persistent link: https://www.econbiz.de/10003739622

Yield curve factors, term structure volatility, and bond risk premia

Hautsch, Nikolaus (contributor); Ou, Yangguoyi (contributor) - 2008

We introduce a Nelson-Siegel type interest rate term structure model with the underlying yield factors following autoregressive processes revealing time-varying stochastic volatility. The factor volatilities capture risk inherent to the term struc- ture and are associated with the time-varying...

Persistent link: https://www.econbiz.de/10003770770

The transformation of banking : tying loan interest rates to borrowers' CDS spreads

Ivanov, Ivan T.; Santos, João A. C.; Vo, Thu - 2013

We investigate how the introduction of market-based pricing, the practice of tying loan interest rates to credit default swaps, has affected bank financing. We find that market-based pricing is associated with lower interest rates, both at origination and during the life of the loan. Our results...

Persistent link: https://www.econbiz.de/10010250693

Measuring the social discount rate under uncertainty : a methodology and application

Ahsan, Syed; Tsigaris, Panagiotis Demetrios - 2002

It is well recognised that the issue of the social rate of discount applies only to the gains from public investment that accrues to the public sector. When it comes to measurement, however, there is a problem: public investment in infrastructure and the like do not usually yield direct...

Persistent link: https://www.econbiz.de/10011514079