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201 results, from 141
DIW Economic Bulletin 6 / 2013

Real Estate Booms and Price Bubbles: What Can Germany Learn from Other Countries?

When speculative price bubbles on real estate markets burst, the effects for the real economy are often devastating taking the form of substantial losses in production and employment. This paper discusses the degree to which institutional frameworks can prevent speculative bubbles from emerging and expanding. Comparing experiences in different countries indicates that, in Germany, institutional regulations ...

2013| Christian Dreger, Konstantin A. Kholodilin
Diskussionspapiere 1270 / 2013

The Spatial Dimension of US House Price Developments

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. In this paper we jointly analyze these three aspects of spatial data. We apply a panel smooth transition regression model that allows for heterogeneity across time and space in spatial ...

2013| Katharina Pijnenburg
Externe referierte Aufsätze

Is There a Bubble in the Chinese Housing Market?

For many analysts, the Chinese economy is being spurred on by a bubble in the housing market, probably driven by the fiscal stimulus package and massive credit expansion, with potentially adverse effects on the real economy. The house price development is investigated by panel cointegration techniques. Evidence is based on a data-set for 35 major cities. Cointegration is detected between real house ...

In: Urban Policy and Research 31 (2013), 1, S. 27-39 | Christian Dreger, Yanqun Zhang

Sustainable Energy Consumption in Residential Buildings

Heidelberg: Physica- Verl., 2013, 263 S.
(ZEW Economic Studies ; 44)
| Klaus Rennings, Bettina Brohmann, Julia Nentwich, Joachim Schleich, Thure Traber, Rolf Wüstenhagen (Eds.)
Externe referierte Aufsätze

An Early Warning System to Predict Speculative House Price Bubbles

In this paper, the authors construct country-specific chronologies of the house price bubbles for 12 OECD countries over the period 1969:Q1-2009:Q4. These chronologies are obtained using a combination of a fundamental approach and a filter approach. The resulting speculative bubble chronology is the one which provides the highest concordance between these two techniques. In addition, the authors suggest ...

In: Economics 7 (2013), 9, 26 S. | Christian Dreger, Konstantin A. Kholodilin
Diskussionspapiere 1207 / 2012

Forecasting the Prices and Rents for Flats in Large German Cities

In this paper, we make multi-step forecasts of the monthly growth rates of the prices and rents for flats in 26 largest German cities. Given the small time dimension, the forecasts are done in a panel-data format. In addition, we use panel models that account for spatial dependence between the growth rates of housing prices and rents. Using a quasi out-of-sample forecasting exercise, we find that both ...

2012| Konstantin A. Kholodilin, Andreas Mense
Diskussionspapiere 1191 / 2012

Internet-Based Hedonic Indices of Rents and Prices for Flats: Example of Berlin

In this paper, we suggest to estimate the home rents and prices in German regions/cities using the data from Internet ads offering the housing for rent and sale. Given the richness of information contained in the ads, we are able to construct the quality-adjusted rent and price indices using the hedonic approach. The results can be applied both for investigating the dynamics of rents/prices and for ...

2012| Konstantin A. Kholodilin, Andreas Mense
DIW Economic Bulletin 1 / 2012

Germany's Construction Industry: Strong Growth Followed by Stagnation

2011 was one of the construction industry's strongest years of growth since German reunification. For the year as a whole, a nominal increase in construction volume of almost eight percent is expected. The price increase is forecast at over 2.5 percent. Real construction volume in 2011 will be over five percent higher than in 2010. However, according to current information, we can expect the construction ...

2012| Martin Gornig, Hendrik Hagedorn
201 results, from 141