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Displaying results 1 to 7 of 7.

  1. The Heterogeneous Response of Real Estate Asset Prices to a Global Shock
    Author: Heiniger, Sandro; Koeniger, Winfried; Lechner, Michael
    Published: 2022
    Publisher:  SSRN, [S.l.]

    We estimate the transmission of the pandemic shock in 2020 to prices in the residential and commercial real estate market by causal machine learning, using new granular data at the municipal level for Germany. We exploit differences in the incidence... more

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    Location:
    Helmut-Schmidt-Universität, Universität der Bundeswehr Hamburg, Universitätsbibliothek
    Inter-library loan:
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    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Inter-library loan:
    No inter-library loan

     

    We estimate the transmission of the pandemic shock in 2020 to prices in the residential and commercial real estate market by causal machine learning, using new granular data at the municipal level for Germany. We exploit differences in the incidence of Covid infections or short-time work at the municipal level for identification. In contrast to evidence for other countries, we find that the pandemic had only temporary negative effects on rents for some real estate types and increased asset prices of real estate particularly in the top price segment of commercial real estate

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    Series: Swiss Finance Institute Research Paper ; No. 22-86
    Subjects: Real estate; Asset prices; Rents; Covid pandemic; Short-time work; Affordability crisis
    Scope: 1 Online-Ressource (58 p)
    Notes:

    Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments November 3, 2022 erstellt
  2. The effect of immigration on the German housing market
    Author: Unal, Umut; Hayo, Bernd; Erol, Isil
    Published: [2022]
    Publisher:  Philipps-University Marburg, School of Business and Economics, Marburg

    This study provides evidence of the causal impact of immigration on German house prices, flat prices, and flat rents using an extensive dataset covering 382 administrative districts over the period 2004-2020. Employing a panel-data approach and a... more

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    This study provides evidence of the causal impact of immigration on German house prices, flat prices, and flat rents using an extensive dataset covering 382 administrative districts over the period 2004-2020. Employing a panel-data approach and a manually constructed shift-share instrument, we show that international migration has a significantly positive short-term effect on German flat prices and rents. House prices are not significantly affected. We estimate that an increase in international migration of 1% of the initial district population causes a hike in flat prices of up to 3% as well as a hike in flat rents of about 1%. The increase in flat prices is more than twice as high as this at the lower end of the market, whereas the flat rental market demonstrates a more linear response. We also discover that immigration's impact on flat prices and rents does not significantly differ across rural and urban areas within the country.

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/273876
    Series: Joint discussion paper series in economics ; no. 2022, 38
    Subjects: Immigration; Housing prices; Rents; Instrumental variable; IV quantile regression; Germanhousing market
    Scope: 1 Online-Ressource (circa 34 Seiten), Illustrationen
  3. The heterogeneous response of real estate asset prices to a global shock
    Author: Heiniger, Sandro; Koeniger, Winfried; Lechner, Michael
    Published: [2022]
    Publisher:  School of Economics and Political Science, Department of Economics, University of St.Gallen, St. Gallen

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    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    VS 466
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: Discussion paper / University of St.Gallen, School of Economics and Political Science, Department of Economics ; no. 2022, 14 (November 2022)
    Subjects: Real estate; Asset prices; Rents; Covid pandemic; Short-time work; Affordability crisis
    Scope: 1 Online-Ressource (circa 59 Seiten), Illustrationen
  4. On the transmission of monetary policy to the housing market
    Author: Koeniger, Winfried; Lennartz, Benedikt; Ramelet, Marc-Antoine
    Published: 2021
    Publisher:  Swiss National Bank, Zurich

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    Verlag (kostenfrei)
    Verlag (kostenfrei)

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    VS 555
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: SNB working papers ; 2021, 6
    Subjects: Monetary policy transmission; Housing market; Home ownership; Rents; House prices
    Scope: 1 Online-Ressource (circa 77 Seiten), Illustrationen
  5. The heterogeneous response of real estate asset prices to a global shock
    Author: Heiniger, Sandro; Koeniger, Winfried; Lechner, Michael
    Published: [2022]
    Publisher:  Center for Financial Studies, Goethe University, Frankfurt am Main, Germany

    We estimate the transmission of the pandemic shock in 2020 to prices in the residential and commercial real estate market by causal machine learning, using new granular data at the municipal level for Germany. We exploit differences in the incidence... more

    Access:
    Resolving-System (kostenfrei)

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    DS 108
    Inter-library loan:
    No inter-library loan

     

    We estimate the transmission of the pandemic shock in 2020 to prices in the residential and commercial real estate market by causal machine learning, using new granular data at the municipal level for Germany. We exploit differences in the incidence of Covid infections or short-time work at the municipal level for identification. In contrast to evidence for other countries, we find that the pandemic had only temporary negative effects on rents for some real estate types and increased asset prices of real estate particularly in the top price segment of commercial real estate.

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/285368
    Series: CFS working paper series ; no. 690
    Subjects: Real estate; Asset prices; Rents; Covid pandemic; Short-time work; Affordability crisis
    Scope: 1 Online-Ressource (circa 59 Seiten), Illustrationen
  6. Photovoltaic systems and housing prices
    the relevance of view
    Author: Füss, Roland; Kürschner Rauck, Kathleen; Weigand, Alois
    Published: [2023]
    Publisher:  Swiss Finance Institute, Geneva

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    Location:
    Helmut-Schmidt-Universität, Universität der Bundeswehr Hamburg, Universitätsbibliothek
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    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    Keine Rechte
    Inter-library loan:
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    Edition: This version: October 2023
    Series: Swiss Finance Institute research paper series ; no 23, 100
    Subjects: Residential Real Estate; Rents; House Prices; Photovoltaic System; View
    Scope: 1 Online-Ressource (circa 46 Seiten), Illustrationen
  7. Attributes and trends of rentified capitalism
    Author: Dosi, Giovanni; Fanti, Lucrezia; Virgillito, Maria Enrica
    Published: [2024]
    Publisher:  LEM, Laboratory of Economics and Management, Institute of Economics, Scuola Superiore Sant'Anna, Pisa, Italy

    The current phase of capitalism has been defined in many alternative ways, ranging from techno-capitalism, turbo-capitalism, unbridled capitalism, unleashed capitalism, managerial capitalism. In this paper we put forward the notion of rentified... more

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    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    DS 203
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    The current phase of capitalism has been defined in many alternative ways, ranging from techno-capitalism, turbo-capitalism, unbridled capitalism, unleashed capitalism, managerial capitalism. In this paper we put forward the notion of rentified capitalism defined as a configuration of capitalism based on the progressive rentification of the socio-economic fabric acting via three mechanisms: Appropriation, Exclusion and Commodification. Delving into a classical political economy distinction of rents from a distributive versus a production perspective, we ask the following research questions: are rents simply a form of functional income source or rather a process of redefinition of property rights allowing for unjust resource accumulation? What are the attributes and trends of a rentified capitalism? How can we distinguish realms and spaces under the process of rentification? How can we measure the degree of rentification of an economy? In order to address the latter questions we identify realms and spaces of rentified capitalism (e.g., resource distribution; economic crises; finance and pseudo wealth; finance vs welfare state; housing; IPRs and Big Pharma) distinguishing countries characterised by different social and economic architectures (US, Germany, Italy) as representative of a variety of capitalisms approach. We conclude that economists are in need of a new analytical thinking advancing on the understanding of the causes and consequences of rentified capitalism.

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: LEM working paper series ; 2024, 01 (January 2024)
    Subjects: Rents; political economy; modern capitalism; accumulation regime; power asymmetry
    Scope: 1 Online-Ressource (circa 30 Seiten), Illustrationen