hrcak mascot   Srce   HID

Prethodno priopćenje

The Nonlinear House Price Adjustment Process in Developed and Transition Countries

Petra Posedel
Maruška Vizek

Puni tekst: engleski, pdf (265 KB) str. 5-27 preuzimanja: 329* citiraj
APA 6th Edition
Posedel, P. i Vizek, M. (2010). The Nonlinear House Price Adjustment Process in Developed and Transition Countries. Radni materijali EIZ-a, (1), 5-27. Preuzeto s https://hrcak.srce.hr/71600
MLA 8th Edition
Posedel, Petra i Maruška Vizek. "The Nonlinear House Price Adjustment Process in Developed and Transition Countries." Radni materijali EIZ-a, vol. , br. 1, 2010, str. 5-27. https://hrcak.srce.hr/71600. Citirano 28.10.2020.
Chicago 17th Edition
Posedel, Petra i Maruška Vizek. "The Nonlinear House Price Adjustment Process in Developed and Transition Countries." Radni materijali EIZ-a , br. 1 (2010): 5-27. https://hrcak.srce.hr/71600
Harvard
Posedel, P., i Vizek, M. (2010). 'The Nonlinear House Price Adjustment Process in Developed and Transition Countries', Radni materijali EIZ-a, (1), str. 5-27. Preuzeto s: https://hrcak.srce.hr/71600 (Datum pristupa: 28.10.2020.)
Vancouver
Posedel P, Vizek M. The Nonlinear House Price Adjustment Process in Developed and Transition Countries. Radni materijali EIZ-a [Internet]. 2010 [pristupljeno 28.10.2020.];(1):5-27. Dostupno na: https://hrcak.srce.hr/71600
IEEE
P. Posedel i M. Vizek, "The Nonlinear House Price Adjustment Process in Developed and Transition Countries", Radni materijali EIZ-a, vol., br. 1, str. 5-27, 2010. [Online]. Dostupno na: https://hrcak.srce.hr/71600. [Citirano: 28.10.2020.]

Sažetak
We use a nonlinear framework in order to explore house price determinants and their adjustment properties. We test for threshold cointegration using a sample of four developed countries (the United States, the United Kingdom, Spain, and Ireland) and four transition countries (Bulgaria, Croatia, the Czech Republic, and Estonia). All eight countries experienced an intensive increase in house prices during the 1990s and the first half of this decade. In addition to testing for nonlinearities, we focus on house price determinants in these four transition countries of Central and Eastern Europe. An asymmetric house price adjustment is present in all transition countries and the U.S., while no threshold effects are detected in developed European countries. In a threshold error correction framework, house prices are aligned with the fundamentals; but house price persistence coupled with a slow and asymmetric house price adjustment process might have facilitated the house price boom in transition countries and the U.S.

Ključne riječi
house prices; threshold cointegration; asymmetric adjustment; transition

Hrčak ID: 71600

URI
https://hrcak.srce.hr/71600

[hrvatski]

Posjeta: 559 *