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.
- Language
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Englisch
- Bibliographic citation
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Series: CESifo Working Paper ; No. 4287
- Classification
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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
- Subject
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Germany
house price bubbles
right-tailed unit root tests
- Event
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Geistige Schöpfung
- (who)
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Chen, Xi
Funke, Michael
- Event
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Veröffentlichung
- (who)
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Center for Economic Studies and ifo Institute (CESifo)
- (where)
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Munich
- (when)
-
2013
- Handle
- Last update
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10.03.2025, 11:43 AM CET
Data provider
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Chen, Xi
- Funke, Michael
- Center for Economic Studies and ifo Institute (CESifo)
Time of origin
- 2013
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