This study identifies empirically the impact of various macroeconomic factors on the default risk premium. Using monthly data for the period 1970-2010 for the U.S., our estimations indicate that the monetary policy aggregates, risk-free interest rate, term structure of interest rates, inflation,...

This study empirically identifies the impact of various macroeconomic factors on the default risk premium. Using monthly data for the period 1970--2010 for the US, our estimations indicate that the monetary policy aggregates, risk-free interest rate, term structure of interest rates, inflation,...

This article hypothesises that, due to factors such as thin trading and lack of publicly available data on transactions in the land market, urban land prices react more sluggishly to shocks in market fundamentals than housing prices do. Based on a vector error-correction model utilising...

The aim of this study is to examine empirically the regional differences in housing price dynamics by estimating panel data models that allow for regional variation in the dynamics. In particular, we investigate whether there are large regional differences in the housing price ímomentumîù...

In this study, regional differences in housing price dynamics are examined empirically using panel data models. We concentrate on examining the momentum dynamics and the reversion speed towards fundamental price level. The analysis can be seen as a test for the validity of conventionally used...

Previous empirical investigations provide evidence of substantial regional variation in the supply elasticity of housing. They further show that the elasticity and its variation across cities within the U.S. are significantly influenced not only by regulatory supply constraints, but also by the...

Previous empirical investigations provide evidence of substantial regional variation in the supply elasticity of housing, and show that the elasticity and its variation across cities within the U.S. are significantly influenced by regulatory supply constraints, city level population, population...