How Long Do Housing Cycles Last? a Duration Analysis for 19 OECD Countries PDF Download
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Author: Mr.Philippe Bracke
Publisher: International Monetary Fund
ISBN: 1463921314
Category : Business & Economics
Languages : en
Pages : 31
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Book Description
This paper analyzes the duration of house price upturns and downturns in the last 40 years for 19 OECD countries. I provide two sets of results, one pertaining to the average length and the other to the length distribution. On average, upturns are longer than downturns, but the difference disappears once the last house price boom is excluded. In terms of length distribution, upturns (but not downturns) are more likely to end as their duration increases. This duration dependence is consistent with a boom-bust view of house price dynamics, where booms represent departures from fundamentals that are increasingly difficult to sustain.
Author: Mr.Philippe Bracke
Publisher: International Monetary Fund
ISBN: 1463921314
Category : Business & Economics
Languages : en
Pages : 31
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Book Description
This paper analyzes the duration of house price upturns and downturns in the last 40 years for 19 OECD countries. I provide two sets of results, one pertaining to the average length and the other to the length distribution. On average, upturns are longer than downturns, but the difference disappears once the last house price boom is excluded. In terms of length distribution, upturns (but not downturns) are more likely to end as their duration increases. This duration dependence is consistent with a boom-bust view of house price dynamics, where booms represent departures from fundamentals that are increasingly difficult to sustain.
Author: Bertrand Renaud
Publisher: John Wiley & Sons
ISBN: 0470672668
Category : Business & Economics
Languages : en
Pages : 350
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Book Description
This book is the first to evaluate the organisation, behaviour and performance of six major East Asian real estate markets. It offers a unique analysis of the growth and transformation of the real estate sector across East Asia. The authors examine the interactions between volatility in the sector and the overall stability of the economy, in particular during the Asia financial crisis of 1997-98, and the global financial crisis of 2008-09. draws on the best available theoretical and empirical literature applies analytic tools in the context of East Asian institutions and policies helps understand factors affecting resilience and stability in East Asian real estate markets.
Author: Nicholas G. Pirounakis
Publisher: Routledge
ISBN: 0415676347
Category : Business & Economics
Languages : en
Pages : 514
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Book Description
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.
Author: Michel Henry Bouchet
Publisher: Springer
ISBN: 3319897527
Category : Business & Economics
Languages : en
Pages : 542
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Book Description
This book provides an up-to-date guide to managing Country Risk. It tackles its various and interlinked dimensions including sovereign risk, socio-political risk, and macroeconomic risk for foreign investors, creditors, and domestic residents. It shows how they are accentuated in the global economy together with new risks such as terrorism, systemic risk, environmental risk, and the rising trend of global volatility and contagion. The book also assesses the limited usefulness of traditional yardsticks of Country Risk, such as ratings and rankings, which at best reflect the market consensus without predictive value and at worst amplify risk aversion and generate crisis contamination. This book goes further than comparing a wide range of risk management methods in that it provides operational and forward-looking warning signs of Country Risk. The combination of the authors’ academic and market-based backgrounds makes the book a useful tool for scholars, analysts, and practitioners.
Author: David Procházka
Publisher: Springer
ISBN: 331968762X
Category : Business & Economics
Languages : en
Pages : 469
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Book Description
This proceedings volume analyzes the impact of globalization on international financial flow as well as harmonized financial reporting. Featuring contributions presented at the 18th Annual Conference on Finance and Accounting held at the University of Economics in Prague, this book examines the economic consequences of the globalized world in the sphere of corporate and public finance, monetary systems, banking, financial reporting and management accounting. The global perspective is accompanied by local specific cases studies, including those from emerging markets. In addition, the combination of micro- and macroeconomic approaches provide insights on the behavior of all relevant stakeholders in the process and the results of dynamic pressures surrounding global capital markets and international investments. This book will serve as a useful resource for scholars and researchers, practitioners and policy makers in the fields of finance, economics and accounting.
Author: OECD
Publisher: OECD Publishing
ISBN: 9264234497
Category :
Languages : en
Pages : 151
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Book Description
This 2015 OECD Economic Survey of New Zealand examines recent economic developments, policies and prospects. Special chapters cover sustaining the economic expansion and making growth more inclusive.
Author: International Monetary Fund. Asia and Pacific Dept
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 58
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Book Description
Selected Issues
Author: David Gray
Publisher: Springer
ISBN: 3319633481
Category : Business & Economics
Languages : en
Pages : 199
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Book Description
This book uses empirical research to examine fluctuations and periodicities in housing markets in the United Kingdom. Chapters investigate received wisdom on housing market co-determination before exploring an unconventional approach to analysing the interaction and diffusion evidence base. Finally, the author presents varied case studies, analysing price diffusion across first-time and repeat buyer groups, regions and housing vintages, as well as related macro variables. This volume will be of interest to academics and researchers interested in the area of price diffusion across housing markets.
Author: Juerg M. Syz
Publisher: John Wiley & Sons
ISBN: 0470694556
Category : Business & Economics
Languages : en
Pages : 252
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Book Description
Property derivatives have the potential to revolutionize real estate - the last major asset class without a liquid derivatives market. The new instruments offer ease and flexibility in the management of property risk and return. Property funds, insurance companies, pension and life funds, speculators, hedge funds or any asset manager with a view on the real estate market can apply the new derivatives to hedge property risk, to invest synthetically in real estate, or for portfolio optimization. Moreover, developers, builders, home suppliers, occupiers, banks, mortgage lenders and governmental agencies can better cope with their real estate exposure using property derivatives. This book is a practical introduction to property derivatives and their numerous applications. Providing a comprehensive overview of the property derivatives market and indices, there is also in-depth coverage of pricing, hedging and risk management, which will deepen the readers understanding of the market's mechanisms. Covering both the theoretical and practical aspects of the property derivatives markets; this book is the definitive reference guide to a new and fast-growing market.
Author:
Publisher:
ISBN:
Category : Power resources
Languages : en
Pages : 544
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Book Description
