A comprehensive method for house price sustainability assessment in the Czech Republic
The result's identifiers
Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216208%3A11230%2F17%3A10360468" target="_blank" >RIV/00216208:11230/17:10360468 - isvavai.cz</a>
Alternative codes found
RIV/61989100:27510/17:10238160
Result on the web
<a href="http://dx.doi.org/10.18267/j.pep.613" target="_blank" >http://dx.doi.org/10.18267/j.pep.613</a>
DOI - Digital Object Identifier
<a href="http://dx.doi.org/10.18267/j.pep.613" target="_blank" >10.18267/j.pep.613</a>
Alternative languages
Result language
angličtina
Original language name
A comprehensive method for house price sustainability assessment in the Czech Republic
Original language description
The article describes approach proposed for the house price equilibrium assessment in the Czech Republic. It first explains why it is necessary to use multiple models simultaneously to correctly assess house price sustainability. It goes on to describe individual models proposed to estimate house price misalignment in the Czech Republic. Results given by these individual models are consonant in identifying periods of over-and undervaluation of house prices but slightly differ in the amplitude of the gaps. A method for aggregating the estimates produced by those approaches is then presented. It works on the premise that more correlated estimates may be evidence of a strong signal, while less correlated estimates may, on the other hand, bring additional information to the house price assessment. By using two sets of weights, it presents an interval of supposed under-or overvaluation of house prices. This method indicates that Czech house prices were roughly at their equilibrium level in mid-2014 following an extended period of slight undervaluation since the mid-2009. It also proves robust to the length of the sample used.
Czech name
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Czech description
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Classification
Type
J<sub>imp</sub> - Article in a specialist periodical, which is included in the Web of Science database
CEP classification
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OECD FORD branch
50201 - Economic Theory
Result continuities
Project
<a href="/en/project/GA13-06229S" target="_blank" >GA13-06229S: The international transmission of shocks in the context of macro-financial linkages</a><br>
Continuities
P - Projekt vyzkumu a vyvoje financovany z verejnych zdroju (s odkazem do CEP)
Others
Publication year
2017
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Data specific for result type
Name of the periodical
Prague Economic Papers
ISSN
1210-0455
e-ISSN
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Volume of the periodical
23
Issue of the periodical within the volume
3
Country of publishing house
CZ - CZECH REPUBLIC
Number of pages
17
Pages from-to
269-285
UT code for WoS article
000403383400002
EID of the result in the Scopus database
2-s2.0-85020410731