House Prices: Analyzing the Effect of Macroeconomic Determinants

Kód výsledku v IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F61989100%3A27510%2F19%3A10244066" target="_blank" >RIV/61989100:27510/19:10244066 - isvavai.cz</a>

Výsledek na webu

<a href="http://dokbat.utb.cz/wp-content/uploads/2020/01/DOKBAT_2019_Conference_Proceedings.pdf" target="_blank" >http://dokbat.utb.cz/wp-content/uploads/2020/01/DOKBAT_2019_Conference_Proceedings.pdf</a>

DOI - Digital Object Identifier

<a href="http://dx.doi.org/10.7441/dokbat.2019.069" target="_blank" >10.7441/dokbat.2019.069</a>

Jazyk výsledku

angličtina

Název v původním jazyce

House Prices: Analyzing the Effect of Macroeconomic Determinants

Popis výsledku v původním jazyce

Since 2015, the EU house prices have increased rapidly, especially in V4 countries, Portugal, Iceland, and Ireland. Even though the growth of house prices may have some positive impacts, e.g. increase in wealth of house owners, it endangers future financial stability and housing affordability. This paper analyses the effect of selected macroeconomic determinants on property prices in 15 European countries over the period 2008 - 2018. It not only theoretically discusses the impact of property market supply and demand factors on house prices, but also empirically employs pooled OLS and fixed effect models to quantify the effects. Overall, we can conclude that growth rate of house prices is pro-cyclical, driven significantly by labour market development and population growth and there is a need for coordination of labour market policy, monetary policy and financial stability. Our model may provide useful information for households, investors and financial stability departments in central banks.

Název v anglickém jazyce

House Prices: Analyzing the Effect of Macroeconomic Determinants

Popis výsledku anglicky

Since 2015, the EU house prices have increased rapidly, especially in V4 countries, Portugal, Iceland, and Ireland. Even though the growth of house prices may have some positive impacts, e.g. increase in wealth of house owners, it endangers future financial stability and housing affordability. This paper analyses the effect of selected macroeconomic determinants on property prices in 15 European countries over the period 2008 - 2018. It not only theoretically discusses the impact of property market supply and demand factors on house prices, but also empirically employs pooled OLS and fixed effect models to quantify the effects. Overall, we can conclude that growth rate of house prices is pro-cyclical, driven significantly by labour market development and population growth and there is a need for coordination of labour market policy, monetary policy and financial stability. Our model may provide useful information for households, investors and financial stability departments in central banks.

Druh

D - Stať ve sborníku

CEP obor

—

OECD FORD obor

50200 - Economics and Business

Projekt

—

Návaznosti

S - Specificky vyzkum na vysokych skolach

Rok uplatnění

2019

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Název statě ve sborníku

DOKBAT : 15th Annual International Bata Conference for Ph.D. Students and Young Researchers : conference proceedings

ISBN

978-80-7454-893-2

ISSN

—

e-ISSN

—

Počet stran výsledku

9

Strana od-do

730-738

Název nakladatele

Univerzita Tomáše Bati ve Zlíně

Místo vydání

Zlín

Místo konání akce

Zlín

Datum konání akce

6. 11. 2019

Typ akce podle státní příslušnosti

WRD - Celosvětová akce

Kód UT WoS článku

—