Zemcik, Petr - In: Czech Journal of Economics and Finance (Finance a uver) 61 (2011) 1, pp. 49-66
Real estate prices more than doubled in many countries of Central and Eastern Europe from 2003 to 2008. In this paper, I provide one of the first assessments of whether housing prices in this region correspond to rents, i.e. to cash-flows related to an apartment purchase. State-of-the-art panel...