This innovative book analyses the role played by real estate markets in global financial stability and examines the fragile link between the two. Through what transmission channels do housing market cycles influence broader economic systems? How has the Global Financial Crisis shifted our view...

In the current study, we focus on the capital asset pricing model (CAPM) beta and downside betas. The empirical results of market index returns in the international samples of 23 developed countries exhibit significant differences between the CAPM and downside betas, indicating that these models...

The purpose of this study is to apply different methods including statistical and spatial analysis techniques to delineate spatial submarkets of housing prices and to examine spatial dependence of housing prices. The data comes from housing transaction prices in the central development areas of...

Models of the allocation of household resources use as a decision rule either the maximisation of a household utility function or the solution to a Nash-bargaining game. The literature on residential mobility has exclusively used the former to analyse the household's decision to change location....

ERES:conference

In Taiwan, the housing market can be separated into the existing housing market and the pre-sales market. The existing market can be regarded as the stock market, and the pre-sales market the flow market. However, some unique characteristics exist in the Taiwan market. Based on these...

Since the 1997 Asian financial crisis, the monetary authority of Taiwan decreased the interest rate nine times and had every intention to maintain a loose monetary policy. However, the lending amounts to the construction industry decreased much more sharply in spite of an increased monetary...

This paper examines the impact of aggregated needs of household members on the choice of housing location in Taipei, Taiwan, using a sample of 11,191 households and information collected from the 1990 Census of Population and Housing. Our results indicate that the choice of housing location is...

This paper examines the link between nonperforming loans, real estate prices, and the banking system. We found that the level of nonperforming loans affects bank profitability as well as the price performance of real estate markets. We also analyzed the factors that cause the ratio of...