Arbeitspapier
Monetary policy and real estate prices: A disaggregated analysis for Switzerland
Most empirical studies found that monetary policy has a significant effect on house prices while stock markets remain unaffected by interest rate shocks. In this paper we conduct a more detailed analysis by studying various sub-segments of the real estate market. Em-ploying a new dataset for Switzerland we estimate vector autoregressive models and find substitution effects between house and apartment prices on the one hand and rental prices on the other. Interestingly enough, commercial property prices do not react on interest rate variations.
- Language
-
Englisch
- Bibliographic citation
-
Series: HWWI Research Paper ; No. 2-19
- Classification
-
Wirtschaft
Interest Rates: Determination, Term Structure, and Effects
Monetary Policy
Urban, Rural, Regional, Real Estate, and Transportation Economics: Housing Demand
- Subject
-
monetary policy
interest rate shocks
real estate
stock market
- Event
-
Geistige Schöpfung
- (who)
-
Berlemann, Michael
Freese, Julia
- Event
-
Veröffentlichung
- (who)
-
Hamburgisches WeltWirtschaftsInstitut (HWWI)
- (where)
-
Hamburg
- (when)
-
2010
- Handle
- Last update
-
10.03.2025, 11:42 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the 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
- Berlemann, Michael
- Freese, Julia
- Hamburgisches WeltWirtschaftsInstitut (HWWI)
Time of origin
- 2010
Other Objects (12)
Monetary policy and real estate prices: A disaggregated analysis for Switzerland
Hurricane Risk, Happiness and Life Satisfaction. Some Empirical Evidence on the Indirect Effects of Natural Disasters
Monetary policy under uncertain planning horizon
Measuring effective monetary policy conservatism
A time-varying indicator of effective monetary policy conservatism
Effective monetary policy conservatism: A comparison of 11 OECD countries
Zum Gedenken an Professor Dr. Ansgar Belke
Ein Ansatz zur experimentellen Überprüfung der ökonomischen Theorie des Haftungsrechts
ECB Presidency and Inflation Aversion among the Citizens of European Countries: An Empirical Assessment
Wahlprognosen: Politische Wahlbörsen versus traditionelle Meinungsforschung
The effect of signalling and beliefs on the voluntary provision of public goods
Forecasting inflation via electronic markets: Results from a prototype market
Monetary policy and real estate prices: A disaggregated analysis for Switzerland
Hurricane Risk, Happiness and Life Satisfaction. Some Empirical Evidence on the Indirect Effects of Natural Disasters
Monetary policy under uncertain planning horizon
Measuring effective monetary policy conservatism
A time-varying indicator of effective monetary policy conservatism
Effective monetary policy conservatism: A comparison of 11 OECD countries
Zum Gedenken an Professor Dr. Ansgar Belke
Ein Ansatz zur experimentellen Überprüfung der ökonomischen Theorie des Haftungsrechts
ECB Presidency and Inflation Aversion among the Citizens of European Countries: An Empirical Assessment
Wahlprognosen: Politische Wahlbörsen versus traditionelle Meinungsforschung
The effect of signalling and beliefs on the voluntary provision of public goods
Forecasting inflation via electronic markets: Results from a prototype market
Monetary policy and real estate prices: A disaggregated analysis for Switzerland
Hurricane Risk, Happiness and Life Satisfaction. Some Empirical Evidence on the Indirect Effects of Natural Disasters
Monetary policy under uncertain planning horizon
Measuring effective monetary policy conservatism
A time-varying indicator of effective monetary policy conservatism
Effective monetary policy conservatism: A comparison of 11 OECD countries
Zum Gedenken an Professor Dr. Ansgar Belke
Ein Ansatz zur experimentellen Überprüfung der ökonomischen Theorie des Haftungsrechts
ECB Presidency and Inflation Aversion among the Citizens of European Countries: An Empirical Assessment
Wahlprognosen: Politische Wahlbörsen versus traditionelle Meinungsforschung
The effect of signalling and beliefs on the voluntary provision of public goods