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Characteristics of German Real Estate Return Distributions: Evidence from Germany and Comparison to the U.S. and U.K.
Maurer, Raimond; Reiner, Frank; Sebastian, Steffen - 2004
In contrast to the United States and the United Kingdom, little empirical work exists about the distributional characteristics of appraisalbased real estate returns outside these countries. The purpose of this study is to fill this gap by focusing on Germany. In line with other studies, this...
Persistent link: https://www.econbiz.de/10010316261
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Inflation Risk Analysis of European Real Estate Securities
Maurer, Raimond; Sebastian, Steffen - 2002
The focus of this article is the analysis of the inflation risk of European real estate securities. Following both a causal and a final understanding of risk, the analysis is twofold. First, to examine the causal influence of inflation on short- and long-term asset returns, different regression...
Persistent link: https://www.econbiz.de/10010316279
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Immobilienindizes im Portfolio-Management
Maurer, Raimond; Sebastian, Steffen; Stephan, Thomas G. - 2000
, (ii) auf Basis von Markttransaktionen in Immobilien und (iii) auf Basis der Wertentwicklung börsennotierter …
Persistent link: https://www.econbiz.de/10010316301
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Inflationsrisiken von Aktien, Bonds und indirekten Immobilienanlagen
Maurer, Raimond; Sebastian, Steffen - In: Kredit und Kapital 35 (2002) 2, pp. 242-279
Inflationsrisiken von Aktien, Bonds und indirekten Immobilienanlagen Für private Anleger ist der Schutz gegen … typischen Anlagen in nationale Portefeuilles aus Aktien, Bonds und Immobilien-Investmentgesellschaften als indirekte …, wird zunächst ein Überblick dieser Gesellschaften am deutschen, französischen, britischen und schweizerischen Finanzmarkt …
Persistent link: https://www.econbiz.de/10014523070
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Round-Number Effects in Real Estate Prices: Evidence from Germany
Englmaier, Florian; Roider, Andreas; Schlereth, Lars; … - 2023
Round numbers affect behavior in various domains, e.g., as prominent thresholds or focal points in bargaining. In line with earlier findings, residential real estate transactions in Germany cluster at round-number prices, but there are also interesting (presumably cultural) differences. We...
Persistent link: https://www.econbiz.de/10014467772
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Round-Number Effects in Real Estate Prices: Evidence from Germany
Englmaier, Florian; Roider, Andreas; Schlereth, Lars; … - 2023
Round numbers affect behavior in various domains, e.g., as prominent thresholds or focal points in bargaining. In line with earlier findings, residential real estate transactions in Germany cluster at round-number prices, but there are also interesting (presumably cultural) differences. We...
Persistent link: https://www.econbiz.de/10014469328
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GDP mimicking portfolios and the cross-section of stock returns
Kroencke, Tim A.; Schindler, Felix; Sebastian, Steffen; … - 2013
The components of GDP (residential investment, durables, nondurables, equipment and software, and business structures) display a pronounced lead-lag structure. We investigate the implications of this lead-lag structure for the cross-section of asset returns. We find that the leading GDP...
Persistent link: https://www.econbiz.de/10010312876
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Open-End Real Estate Funds: Danger or Diamond?
Sebastian, Steffen; Tyrell, Marcel - 2006
Both banks and open end real estate funds effectuate liquidity transformation in large amounts and high scales. Because of this similarity the latter should be analyzed using the same methodologies as usually applied for banks. We show that the work in the tradition of Diamond and Dybvig (1983),...
Persistent link: https://www.econbiz.de/10010316093
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Risikoexposure deutscher Universal- und Hypothekenbanken gegenüber makroökonomischen Schocks
Behr, Patrick; Sebastian, Steffen - In: Kredit und Kapital 39 (2006) 4, pp. 513-536
- und Hypothekenbanken zu. Die Untersuchungsergebnisse bestätigen die Eingangshypothese, dass die Renditen der Aktien von …
Persistent link: https://www.econbiz.de/10014523255
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Asset Meltdown: Fact or Fiction?
Marekwica, Marcel; Maurer, Raimond H.; Sebastian, Steffen - 2006
This paper analyzes the relation between demographic structure and real asset returns on treasury bills, bonds and stocks for the G7-countries (United States, Canada, Japan, Italy, France, the United Kingdom and Germany). A macroeconomic multifactor model is used to examine a variety of...
Persistent link: https://www.econbiz.de/10010275783