Arbeitspapier
Renewed Momentum in the German Housing Market: Boom or Bubble?
The renewed momentum in the German housing market has led to concerns that Germany is vulnerable to asset price shocks. In this paper, we apply recently developed recursive unit root tests to detect the beginning and the end of potential speculative bubbles in Germany over the sample period 1987Q3 - 2012Q4. Overall, we find that actual house prices are not significantly disconnected from underlying economic fundamentals. Thus, there is no evidence of speculative house price bubbles in Germany.
- Sprache
-
Englisch
- Erschienen in
-
Series: CESifo Working Paper ; No. 4287
Klassifikation
Wirtschaft
Single Equation Models; Single Variables: Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes
Forecasting Models; Simulation Methods
Monetary Policy
Housing Supply and Markets
Single Equation Models; Single Variables: Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes
Forecasting Models; Simulation Methods
Monetary Policy
Housing Supply and Markets
Thema
Germany
house price bubbles
right-tailed unit root tests
house price bubbles
right-tailed unit root tests
Ereignis
Geistige Schöpfung
(wer)
Chen, Xi
Funke, Michael
Funke, Michael
Ereignis
Veröffentlichung
(wer)
Center for Economic Studies and ifo Institute (CESifo)
(wo)
Munich
(wann)
2013
- Handle
- Letzte Aktualisierung
-
12.07.2024, 13:21 MESZ
Objekttyp
- Arbeitspapier
Beteiligte
- Chen, Xi
- Funke, Michael
- Center for Economic Studies and ifo Institute (CESifo)
Entstanden
- 2013
Ähnliche Objekte (12)
Real-time warning signs of emerging and collapsing Chinese house price bubbles
A leading indicator of house-price bubbles
Speculative price bubbles in urban housing markets in Germany
The dynamics of catch-up and skill and technology upgrading in China
Mapping China's time-varying house price landscape
Detecting Imbalances in House Prices: What Goes up Must Come Down?
Inflation in mainland China: modelling a roller coaster ride
Taking the temperature: forecasting GDP growth for mainland in China
Four Essays on Real Estate Markets
The interaction of actual and fundamental house prices: A general model with an application to Denmark and Sweden
Leveraged Bubbles
House Prices and Macroprudential Policy in an Estimated DSGE Model of New Zealand
Real-time warning signs of emerging and collapsing Chinese house price bubbles
A leading indicator of house-price bubbles
Speculative price bubbles in urban housing markets in Germany
The dynamics of catch-up and skill and technology upgrading in China
Mapping China's time-varying house price landscape
Detecting Imbalances in House Prices: What Goes up Must Come Down?
Inflation in mainland China: modelling a roller coaster ride
Taking the temperature: forecasting GDP growth for mainland in China
Four Essays on Real Estate Markets
The interaction of actual and fundamental house prices: A general model with an application to Denmark and Sweden
Leveraged Bubbles
House Prices and Macroprudential Policy in an Estimated DSGE Model of New Zealand
Real-time warning signs of emerging and collapsing Chinese house price bubbles
A leading indicator of house-price bubbles
Speculative price bubbles in urban housing markets in Germany
The dynamics of catch-up and skill and technology upgrading in China
Mapping China's time-varying house price landscape
Detecting Imbalances in House Prices: What Goes up Must Come Down?
Inflation in mainland China: modelling a roller coaster ride
Taking the temperature: forecasting GDP growth for mainland in China
Four Essays on Real Estate Markets
The interaction of actual and fundamental house prices: A general model with an application to Denmark and Sweden
Leveraged Bubbles