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effect of the variables on housing demand and supply in Turkey. While the dependent variable on the demand side is real … Turkey is sensitive to shocks in the economy. This study also presents forecast error variance decompositions (FEVD) and …
Persistent link: https://www.econbiz.de/10013049224
Persistent link: https://www.econbiz.de/10011698013
This study revisits the import demand function for Turkey using the newly defined national income data and examines the …
Persistent link: https://www.econbiz.de/10012000879
This paper provides a model for the well-known empirical phenomenon that houses of different quality experience different price developments. The typical pattern is that luxury houses appreciate more in boom periods and depreciate more during busts. The standard model of housing demand treats...
Persistent link: https://www.econbiz.de/10011538569
We propose two alternative models to estimate fundamental prices on real estate markets. The first model is based on a no-arbitrage condition between renting and buying. The second model interprets the period costs as the result of market equilibrium between housing demand and supply. We...
Persistent link: https://www.econbiz.de/10014220601
From 2014 until present, housing prices in Germany have been rising faster than consumer prices in all quarters except one, raising concerns about an excessive over-heating of the housing market. To assess the vulnerability of the German housing market to a future realignment of prices or even a...
Persistent link: https://www.econbiz.de/10012860819
From September 2011 to January 2015, the Swiss National Bank (SNB) implemented a minimum exchange rate regime (i.e. a one-sided target zone) vis-a-vis the euro to fight deflationary pressures in the aftermath of the Great Financial Crisis. During this period of unconventional monetary policy,...
Persistent link: https://www.econbiz.de/10012197889
From 2014 until present, housing prices in Germany have been rising faster than consumer prices in all quarters except one, raising concerns about an excessive over-heating of the housing market. To assess the vulnerability of the German housing market to a future realignment of prices or even a...
Persistent link: https://www.econbiz.de/10012098990
Understanding the impact of housing supply on housing price inflation is a particularly important issue from a policy-maker's perspective. Notwithstanding the impact of the great financial crisis (GFC) in 2007/08, the past 25 years has seen a significant increase in housing prices across a...
Persistent link: https://www.econbiz.de/10013362190
The study estimates the housing supply elasticity and the impact of geographic constraints in Germany from 2008-2019 using the Bartik instrument. The results show that the housing supply is, on average, inelastic, with a floorspace elasticity of 0.22 and a units elasticity of 0.25. The study...
Persistent link: https://www.econbiz.de/10014228596