Spatial heterogeneity and spatial dependence are two well established aspects of house price developments. However, the analysis of differences in spatial dependence across time and space has not gained much attention yet. This paper jointly analyses these three aspects of spatial data. A panel smooth transition regression model is applied that allows for heterogeneity across time and space in spatial ...
World War I led to radical changes in the government policy of participating countries. The enormous demographic and economic disturbances caused by the war forced the governments of all the belligerent nations to drastically restrict the market freedom. In particular, the state began actively intervening in the housing market. Ukraine as a part of the former Russian Empire, for the first time in its ...
Children’s early years are a time when many families move home. Does residential mobility affect children’s wellbeing at age five in terms of cognitive and behavioural development? The question arises as moving home is sometimes portrayed as a stressful life event adversely affecting child development, particularly if frequent. Other studies suggest a more mixed role for home moves, which may reflect ...
Space heating and hot water expenditures make up the majority of household energy demand in Germany, at 83.2%, making them an attractive target for energy policies. Using a panel dataset derived from yearly residential household surveys covering the years 1996 to 2014, we identify the determinants of heating expenditures for German households. We discover significant heterogeneity in expenditures depending ...
We revisit the alleged retirement consumption puzzle. According to the life-cycle theory, foreseeable income reductions such as those around retirement should not affect consumption. However, we first recall that given higher leisure endowments after retirement, the theory does predict a fall of total market consumption expenditures. In order not to mistake this predicted drop for a puzzle we focus ...
Most countries show a residency discount in rents for sitting tenants. In the wake of strong rent increases and housing shortages, Germany implemented a reform in 2001 to curtail rent increases. Based on linked housing-tenant data for Germany, this paper estimates panel OLS and quantile regressions of rents within tenancies. The results show that rents deflated by the CPI increase strongly from 1984 ...
This study investigates the relationship between regional housing market fundamentals and energy consumption. We argue that dwellings, in particularly rental properties, are not only consumer goods, but also constitute financial market assets. Properties are spatially fixed and traded in regional contexts, where real estate market characteristics like vacancy, income levels, and expectations determine ...
Rising rents in German cities have led to an intense debate about the need for tighter rent controls in housing markets. In April 2015, the so-called rental brake was introduced, which imposes upper bounds for rents in new contracts, in order to immediately slow down the increase of rents in tight housing markets. Since then, 11 federal states made use of this instrument. We take advantage of this ...