Speculative bubbles in the Stockholm housing market 1875-1935?

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dc.contributor.author Sölvi H. Blöndal 1975 is
dc.date.accessioned 2015-10-21T15:51:38Z
dc.date.available 2015-10-21T15:51:38Z
dc.date.issued 2015-02
dc.identifier.uri http://hdl.handle.net/10802/10559
dc.description.abstract The main purpose of this paper has been to establish whether housing and rent prices share a common trend in the long run. And thus, to determine whether there were speculative bubbles in the Stockholm housing market during the period 1875-1930. This period offered an excellent opportunity for such an investigation due to limited regulation in the housing market. Finally, a newly generated data on Stockholm housing prices from 1875 and data on Stockholm rent prices have given us rare insight into the Stockholm housing market. After applying the statistical procedure of testing for cointegration, we have concluded that Stockholm housing and rent prices share a common trend, i.e. that they return to a long run equilibrium after experiencing an exogenous shock. More specifically, the results indicate a 22% movement back towards equilibrium following a shock to the model, one period later, i.e. one year later. Therefore, we conclude that during the period 1875-1930 there was no indication of a speculative bubble in the Stockholm housing market. is
dc.format.extent 27 s. is
dc.language.iso en
dc.publisher Stockholm University, Department of Economics is
dc.relation.ispartofseries Stockholm papers in economic history ; 16
dc.relation.uri http://www.historia.se/SPEH16.pdf
dc.subject Fasteignamarkaður is
dc.subject Leigumarkaður is
dc.subject Hagsaga is
dc.subject Stokkhólmur is
dc.title Speculative bubbles in the Stockholm housing market 1875-1935? en
dc.type Bók is
dc.identifier.gegnir 991006311779706886


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