Another look at the capitalization of interest subsidies: evidence from Sweden
We analyze by far the most extensive data base yet employed in estimating capitalization" of below-market interest rates into asset prices: nearly 300,000 sales of owner-occupied homes in" Sweden from 1981 to 1993 with 40,000 including government subsidized interest rates. Our" estima...
Gespeichert in:
| Format: | Buch |
|---|---|
| Sprache: | English |
| Veröffentlicht: |
Cambridge, Mass.
1998
|
| Schriftenreihe: | National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series
6365 |
| Schlagworte: | |
| Online-Zugang: | kostenfrei |
| Zusammenfassung: | We analyze by far the most extensive data base yet employed in estimating capitalization" of below-market interest rates into asset prices: nearly 300,000 sales of owner-occupied homes in" Sweden from 1981 to 1993 with 40,000 including government subsidized interest rates. Our" estimates indicates very clearly that interest subsidies are capitalized into house prices. The" below-market financing parameter is consistently significantly negative in all model" specifications, irrespective of assumptions about the degree of foresight structure and interest rate measure for all ten regions that we have studied. In our favored model" specification the estimated capitalization coefficients center on minus unity capitalization. |
| Beschreibung: | 24 S. graph. Darst. |
Internformat
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| geographic | Schweden |
| geographic_facet | Schweden |
| id | DE-604.BV011861911 |
| illustrated | Illustrated |
| indexdate | 2024-07-09T18:17:37Z |
| institution | BVB |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-008013419 |
| oclc_num | 38528699 |
| open_access_boolean | 1 |
| owner | DE-19 DE-BY-UBM DE-521 |
| owner_facet | DE-19 DE-BY-UBM DE-521 |
| physical | 24 S. graph. Darst. |
| publishDate | 1998 |
| publishDateSearch | 1998 |
| publishDateSort | 1998 |
| record_format | marc |
| series | National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series |
| series2 | National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series |
| spelling | Another look at the capitalization of interest subsidies evidence from Sweden Tommy Berger ... Cambridge, Mass. 1998 24 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series 6365 We analyze by far the most extensive data base yet employed in estimating capitalization" of below-market interest rates into asset prices: nearly 300,000 sales of owner-occupied homes in" Sweden from 1981 to 1993 with 40,000 including government subsidized interest rates. Our" estimates indicates very clearly that interest subsidies are capitalized into house prices. The" below-market financing parameter is consistently significantly negative in all model" specifications, irrespective of assumptions about the degree of foresight structure and interest rate measure for all ten regions that we have studied. In our favored model" specification the estimated capitalization coefficients center on minus unity capitalization. Logement - Prix - Suède - Modèles économétriques ram Logement - Subventions - Suède - Modèles économétriques ram Logement - Suède - Finances - Modèles économétriques ram Ökonometrisches Modell Housing subsidies Sweden Econometric models Housing Prices Sweden Econometric models Housing Sweden Finance Econometric models Schweden Berger, Tommy Sonstige oth Erscheint auch als Online-Ausgabe National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series 6365 (DE-604)BV002801238 6365 http://papers.nber.org/papers/w6365.pdf kostenfrei Volltext |
| spellingShingle | Another look at the capitalization of interest subsidies evidence from Sweden National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series Logement - Prix - Suède - Modèles économétriques ram Logement - Subventions - Suède - Modèles économétriques ram Logement - Suède - Finances - Modèles économétriques ram Ökonometrisches Modell Housing subsidies Sweden Econometric models Housing Prices Sweden Econometric models Housing Sweden Finance Econometric models |
| title | Another look at the capitalization of interest subsidies evidence from Sweden |
| title_auth | Another look at the capitalization of interest subsidies evidence from Sweden |
| title_exact_search | Another look at the capitalization of interest subsidies evidence from Sweden |
| title_full | Another look at the capitalization of interest subsidies evidence from Sweden Tommy Berger ... |
| title_fullStr | Another look at the capitalization of interest subsidies evidence from Sweden Tommy Berger ... |
| title_full_unstemmed | Another look at the capitalization of interest subsidies evidence from Sweden Tommy Berger ... |
| title_short | Another look at the capitalization of interest subsidies |
| title_sort | another look at the capitalization of interest subsidies evidence from sweden |
| title_sub | evidence from Sweden |
| topic | Logement - Prix - Suède - Modèles économétriques ram Logement - Subventions - Suède - Modèles économétriques ram Logement - Suède - Finances - Modèles économétriques ram Ökonometrisches Modell Housing subsidies Sweden Econometric models Housing Prices Sweden Econometric models Housing Sweden Finance Econometric models |
| topic_facet | Logement - Prix - Suède - Modèles économétriques Logement - Subventions - Suède - Modèles économétriques Logement - Suède - Finances - Modèles économétriques Ökonometrisches Modell Housing subsidies Sweden Econometric models Housing Prices Sweden Econometric models Housing Sweden Finance Econometric models Schweden |
| url | http://papers.nber.org/papers/w6365.pdf |
| volume_link | (DE-604)BV002801238 |
| work_keys_str_mv | AT bergertommy anotherlookatthecapitalizationofinterestsubsidiesevidencefromsweden |