Unifying Empirical And Theoretical Models Of Housing Supply
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Unifying Empirical And Theoretical Models Of Housing Supply
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Author : Christopher J. Mayer
language : en
Publisher:
Release Date : 1996
Unifying Empirical And Theoretical Models Of Housing Supply written by Christopher J. Mayer and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1996 with Housing categories.
Unifying Empirical And Theoretical Models Of Housing Supply
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Author : Christopher J. Mayer
language : en
Publisher:
Release Date : 2011
Unifying Empirical And Theoretical Models Of Housing Supply written by Christopher J. Mayer and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011 with categories.
Housing supply plays an important role in the volatility of macroeconomic cycles and the speed with which house prices respond to changes in demand, yet it is understudied in the current literature. In this paper we present and estimate a new model of the supply of residential construction that is consistent with the theoretical treatment of land development and urban growth. The model shows that new housing construction is best described as a function of changes in house prices and costs rather than as a function of the levels of those variables. Previous research that uses the price levels specification has the drawback that a one-time increase in the number of households that raises the level of real house prices leads to a permanent jump in new construction and thus an infinite increase in the stock of housing. The empirical tests of the model support our new specification, which performs better than alternative models in out-of-sample forecasts. Our estimates suggest a fairly moderate response of supply to house price changes. A 10 percent rise in real house prices leads to an 0.8 percent increase in the housing stock, which is accomplished by a temporary 180 percent increase in the average number of quarterly starts, spread over four quarters.
Unifying Empirical And Theorical Models Of Housing Supply
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Author : Christopher J. Mayer
language : en
Publisher:
Release Date : 1996
Unifying Empirical And Theorical Models Of Housing Supply written by Christopher J. Mayer and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1996 with categories.
Real Estate Economics
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Author : Nicholas G. Pirounakis
language : en
Publisher: Routledge
Release Date : 2013
Real Estate Economics written by Nicholas G. Pirounakis and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013 with Business & Economics categories.
Real Estate Economics: A point-to-point handbook introduces the main tools and concepts of real estate (RE) economics. It covers areas such as the relation between RE and the macro-economy, RE finance, investment appraisal, taxation, demand and supply, development, market dynamics and price bubbles, and price estimation. It balances housing economics with commercial property economics, and pays particular attention to the issue of property dynamics and bubbles – something very topical in the aftermath of the US house-price collapse that precipitated the global crisis of 2008. This textbook takes an international approach and introduces the student to the necessary ‘toolbox’ of models required in order to properly understand the mechanics of real estate. It combines theory, technique, real-life cases, and practical examples, so that in the end the student is able to: • read and understand most RE papers published in peer-reviewed journals; • make sense of the RE market (or markets); and • contribute positively to the preparation of economic analyses of RE assets and markets soon after joining any company or other organization involved in RE investing, appraisal, management, policy, or research. This book should be particularly useful to third-year students of economics who may take up RE or urban economics as an optional course, to postgraduate economics students who want to specialize in RE economics, to graduates in management, business administration, civil engineering, planning, and law who are interested in RE, as well as to RE practitioners and to students reading for RE-related professional qualifications.
Nonstandard House Price Theory
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Author : Marko Hannonen
language : en
Publisher: Suomen E-painos Oy
Release Date :
Nonstandard House Price Theory written by Marko Hannonen and has been published by Suomen E-painos Oy this book supported file pdf, txt, epub, kindle and other format this book has been release on with Mathematics categories.
This is an e-book about a dynamic field theory of house prices, which simplifies the ideas in the author’s previous work, A Field Theory of House Prices (ISBN 978-952-6613-36-9). The text provides new, highly workable ideas based on the major ideas of classical physics combined with the major ideas of classical economics. This synthesis is known as a dynamic field theory of house prices. This is a novel theory that provides a unified, general framework for decision-making that can be applied to any macro-level question about house prices. In order to understand the ideas of this e-book, it is assumed that the reader has a basic understanding of mathematics, which is the language of exact science. The workability of the ideas presented in this e-book are demonstrated using some real, large data sets. These empirical results are documented in the presented material. The local disposable income and the interest variable typically applied in Finland are the ”pushing forces” that generate the demand field. The supply side is the ”attracting force” that does not influence the house prices in the samples investigated, but is still a force that exists. What is a house price? What are the demand field and supply field of housing? This book explains these issues.
Working Paper Series
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Author :
language : en
Publisher:
Release Date : 2000
Working Paper Series written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000 with Banks and banking categories.
An Optimizing Model For Monetary Policy Analysis
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Author : Jeffrey C. Fuhrer
language : en
Publisher:
Release Date : 1998
An Optimizing Model For Monetary Policy Analysis written by Jeffrey C. Fuhrer and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998 with Consumption (Economics) categories.
Monetary Policy Housing Investment And Heterogenous Regional Markets
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Author : Michael Fratantoni
language : en
Publisher:
Release Date : 2000
Monetary Policy Housing Investment And Heterogenous Regional Markets written by Michael Fratantoni and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000 with Monetary policy categories.
Diversification And Development
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Author : Miklós Koren
language : en
Publisher:
Release Date : 2003
Diversification And Development written by Miklós Koren and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003 with Diversification in industry categories.
New England Economic Review
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Author :
language : en
Publisher:
Release Date : 1997
New England Economic Review written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1997 with New England categories.