کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
971601 | 932364 | 2008 | 8 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
Testing the efficiency of the Norwegian housing market
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کلمات کلیدی
موضوعات مرتبط
علوم انسانی و اجتماعی
اقتصاد، اقتصادسنجی و امور مالی
اقتصاد و اقتصادسنجی
پیش نمایش صفحه اول مقاله
چکیده انگلیسی
The question of whether or not the housing market is efficient is posed by an increasing number of economists, policymakers, homebuyers, and homesellers. This article tests the efficiency hypothesis on data from the housing market in Oslo over the period 1991–2002, employing the Case–Shiller time-structure test on a repeat-sales house price index and returns to housing. We demonstrate that both the repeat-sales house price index and returns contain time structure and that the housing market is characterized by inefficiencies. We also find, surprisingly, that the housing market consistently yields higher appreciation at lower volatility than the stock market over the period.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Urban Economics - Volume 64, Issue 2, September 2008, Pages 510–517
Journal: Journal of Urban Economics - Volume 64, Issue 2, September 2008, Pages 510–517
نویسندگان
Erling Røed Larsen, Steffen Weum,