Arbeitspapier
The Financial Crisis and Diverging House Prices: Evidence from the Copenhagen Metropolitan Area
This paper investigates the development of house prices in Copenhagen in the period 1994-2013, while paying special attention to the heterogeneous impact of the boom and bust periods along the dimensions of housing type (single vs multifamily housing), geography and quality. To allow for price developments that can differ by quality, we use a recently developed generalization of the conventional Muth model that assumes a constant unit price across the quality spectrum. It allows us to separately consider the development of house prices and quality in Copenhagen neighbourhoods. Moreover, we investigate the validity of the common assumption of a constant unit price and reject it decisively. We use detailed housing transaction data for the greater Copenhagen area. We show that the housing boom of the 2000’s and the bust that followed hit the lowest quality segments significantly harder than the high quality segments of the housing market.
- Sprache
-
Englisch
- Erschienen in
-
Series: Tinbergen Institute Discussion Paper ; No. 17-084/VIII
- Klassifikation
-
Wirtschaft
Market Structure, Pricing, and Design: General
Real Estate Services
Urban, Rural, Regional, Real Estate, and Transportation Economics: Housing Demand
Housing Supply and Markets
- Thema
-
housing price
housing quality
housing price index
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Mulalic, Ismir
Rasmussen, Holger
Rouwendal, Jan
Woltmann, Hans Henrik
- Ereignis
-
Veröffentlichung
- (wer)
-
Tinbergen Institute
- (wo)
-
Amsterdam and Rotterdam
- (wann)
-
2017
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:42 MEZ
Datenpartner
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Mulalic, Ismir
- Rasmussen, Holger
- Rouwendal, Jan
- Woltmann, Hans Henrik
- Tinbergen Institute
Entstanden
- 2017
Ähnliche Objekte (12)
Measuring Diverging House Prices
Optimal Congestion Pricing with Diverging Long-run and Short-run Scheduling Preferences
Does improving Public Transport decrease Car Ownership? Evidence from the Copenhagen Metropolitan Area
Coordination Frictions and The Financial Crisis
Public transport investments, commuting and gentrification: Evidence from Copenhagen
CDOs and the Financial Crisis: Credit Ratings and Fair Premia
The Macroeconomics of the Credit Crisis: In Search of Externalities for Macro-Prudential Supervision
Sorting based on Urban Heritage and Income: Evidence from the Amsterdam Metropolitan Area
Business Networks and Crisis Performance: Professional, Political, and Family Ties
Short-Selling Bans around the World: Evidence from the 2007-09 Crisis
Profiteering from the Dot-com Bubble, Sub-Prime Crisis and Asian Financial Crisis
Asset Market Linkages in Crisis Periods
Measuring Diverging House Prices
Optimal Congestion Pricing with Diverging Long-run and Short-run Scheduling Preferences
Does improving Public Transport decrease Car Ownership? Evidence from the Copenhagen Metropolitan Area
Coordination Frictions and The Financial Crisis
Public transport investments, commuting and gentrification: Evidence from Copenhagen
CDOs and the Financial Crisis: Credit Ratings and Fair Premia
The Macroeconomics of the Credit Crisis: In Search of Externalities for Macro-Prudential Supervision
Sorting based on Urban Heritage and Income: Evidence from the Amsterdam Metropolitan Area
Business Networks and Crisis Performance: Professional, Political, and Family Ties
Short-Selling Bans around the World: Evidence from the 2007-09 Crisis
Profiteering from the Dot-com Bubble, Sub-Prime Crisis and Asian Financial Crisis
Asset Market Linkages in Crisis Periods
Measuring Diverging House Prices
Optimal Congestion Pricing with Diverging Long-run and Short-run Scheduling Preferences
Does improving Public Transport decrease Car Ownership? Evidence from the Copenhagen Metropolitan Area
Coordination Frictions and The Financial Crisis
Public transport investments, commuting and gentrification: Evidence from Copenhagen
CDOs and the Financial Crisis: Credit Ratings and Fair Premia
The Macroeconomics of the Credit Crisis: In Search of Externalities for Macro-Prudential Supervision
Sorting based on Urban Heritage and Income: Evidence from the Amsterdam Metropolitan Area
Business Networks and Crisis Performance: Professional, Political, and Family Ties
Short-Selling Bans around the World: Evidence from the 2007-09 Crisis
Profiteering from the Dot-com Bubble, Sub-Prime Crisis and Asian Financial Crisis