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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%2F61989100%3A27510%2F17%3A10238160" target="_blank" >RIV/61989100:27510/17:10238160 - isvavai.cz</a>

  • Alternative codes found

    RIV/00216208:11230/17:10360468

  • Result on the web

    <a href="https://www.vse.cz/pep/613" target="_blank" >https://www.vse.cz/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

  • Czech description

Classification

  • Type

    J<sub>imp</sub> - Article in a specialist periodical, which is included in the Web of Science database

  • CEP classification

  • OECD FORD branch

    50202 - Applied Economics, Econometrics

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

    I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

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

  • Volume of the periodical

    26

  • Issue of the periodical within the volume

    3

  • Country of publishing house

    CZ - CZECH REPUBLIC

  • Number of pages

    16

  • Pages from-to

    269-285

  • UT code for WoS article

    000403383400002

  • EID of the result in the Scopus database

    2-s2.0-85020410731