Three essays on housing market analysis in Germany:
Saved in:
| Main Author: | |
|---|---|
| Format: | Thesis Book |
| Language: | English |
| Published: |
Hamburg
Verlag Dr. Kovač
2018
|
| Series: | Schriftenreihe volkswirtschaftliche Forschungsergebnisse
Band 225 |
| Subjects: | |
| Online Access: | Inhaltsverzeichnis Inhaltsverzeichnis |
| Physical Description: | xxii, 260 Seiten Diagramme 21 cm, 385 g |
| ISBN: | 9783339103543 3339103542 |
Staff View
MARC
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| 100 | 1 | |a Kim, Chong Dae |e Verfasser |0 (DE-588)1170685048 |4 aut | |
| 245 | 1 | 0 | |a Three essays on housing market analysis in Germany |c Chong Dae Kim |
| 264 | 1 | |a Hamburg |b Verlag Dr. Kovač |c 2018 | |
| 300 | |a xxii, 260 Seiten |b Diagramme |c 21 cm, 385 g | ||
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| 653 | |a Mathematische Methoden | ||
| 653 | |a Multiple Lineare Regression | ||
| 653 | |a DSGE-Modell | ||
| 653 | |a Agentenbasierte Modellierung | ||
| 653 | |a Hypothek | ||
| 653 | |a Wohnungspreise | ||
| 653 | |a Modellbewertung | ||
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Record in the Search Index
| _version_ | 1804179225185353728 |
|---|---|
| adam_text | CONTENTS
I E
VALUATION
AND
A
NALYSIS
OF
THE
V
ALUE
OF
G
ERMAN
R
EAL
E
STATE
F
OLLOWING
THE
FINANCIAL
C
RISIS
OF
2007 1
1 INTRODUCTION 3
2 MULTIPLE LINEAR REGRESSION AND RATING FACTORS 5
3 SOLVING FOR CHARACTERISTICS 9
3.1 NOMINALLY SCALED CHARACTERISTICS
............................................
10
3.2 ORDINALLY SCALED CHARACTERISTICS
...............................................
11
3.3 PROPORTIONALLY SCALED
CHARACTERISTICS...................................... 12
4 CALCULATION OF RATING FACTORS IN A GROUP OF CHARACTERISTICS 13
4.1 NOMINALLY SCALED CHARACTERISTICS
............................................
13
4.2 ORDINALLY SCALED CHARACTERISTICS
...............................................
13
4.3 PROPORTIONALLY SCALED
CHARACTERISTICS...................................... 14
5 CALCULATING RATING FACTORS 19
5.1 SOME RATING FA C TO RS
.................................................................. 19
5.2 EVALUATION OF RATING FA C TO RS
.....................................................
22
6 EVALUATION OF RATING FACTORS AND INTEREST RATES 23
6.1 LONG-TERM ANALYSIS OF SELECT
CHARACTERISTICS......................... 23
6.1.1 LOCATION
..................................................................... 23
6.1.2 HOUSING T Y P E
................................................................ 25
6.1.3 DISTRICTS AND EAST-WEST CO M P ARISO N ...........................
26
6.2 SHORT-TERM ANALYSIS OF THE LAST THREE Y E A R S
............................
28
6.2.1 HOUSING T Y P E
................................................................ 28
6.2.2 CONDITION OF THE BUILDING
............................................
30
7 CONCLUSION
35
II
H
OUSING
M
ARKETS
: A DSGE A
NALYSIS
OF
THE
G
ERMAN
C
ASE
37
8 INTRODUCTION 39
9 DSGE MODEL 43
9.1 THE DATA USED
........................................................................
45
9.2 CALIBRATION AND ESTIMATION OF MODEL PARAMETERS
...................
47
10 EVALUATION OF THE RESULTS 49
10.1
PARAMETERS..................................................................................
51
10.2 SHOCK
DECOMPOSITION...............................................................
55
10.3 VARIANCE D ECOM
POSITION......................................................... 62
10.4 IMPULSE R ESP O N
SES.................................................................. 64
11 CONCLUSIONS AND ANALYSIS 71
12 CRITICAL APPRAISAL 75
13 DATA SOURCES 79
13.1 STATISTISCHES BUNDESAMT (FEDERAL STATISTICAL OFFICE OF GERMANY) 79
13.2 DEUTSCHE BUNDESBANK (GERMAN FEDERAL B ANK)
......................
79
13.3 BANK OF INTERNATIONAL SETTLEMENTS
......................................... 79
14 APPENDIX A: DATA PREPARATION 81
15 APPENDIX B: CALIBRATION 101
IN
I
NTEGRATION
OF
FIXED
INTEREST
PERIODS
IN
THE
I
CE
ACE M
ODEL
IOS
16 INTRODUCTION 107
17 THE ICEACE MODEL
109
18 MODIFYING THE MODEL 115
18.1 DECISION RULES FOR HOUSEHOLDS IN THE HOUSING M ARKET
...........
115
18.2 PAYMENT FLOWS FOR MORTGAGES OF HOUSEHOLDS
.........................
124
18.3 INTEREST RA TE
S...............................................................................
128
19 RESULTS AND EVALUATION 131
19.1 THE BASE VARIANT
........................................................................
131
19.1.1 BASE VARIANT WITH ENDOGENOUSLY SET INTEREST RATES . . 132
19.1.2 BASE VARIANT WITH EXOGENOUS INTEREST RA TE S
................
139
19.2 OVERVIEW OF THE V A R IA N TS
......................................................... 145
19.2.1 HOUSING P R I C E S
............................................................ 148
19.2.2 SUPPLY / DEMAND / T RANSACTIONS................................
150
19.2.3 BLOCKED AND REJECTED M ORTGAGES................................
155
19.2.4 ILLIQUID UND INSOLVENT F I R M S
...................................... 157
19.2.5 FIRM
REVENUES...............................................................
162
19.2.6 UNEMPLOYM
ENT............................................................ 165
19.2.7 REFERENCE INTEREST R A T E
...............................................
166
19.2.8 HOUSING STOCK
............................................................ 168
19.2.9 MORTGAGE S TO C K
............................................................ 170
19.3
EVALUATION..................................................................................
171
19.3.1 SPECIAL FOCUS: VARIANT [ KEINE SPEKULATION 5% VERKAUFS
CHANCE]
........................................................................
171
19.3.2 SPECIAL FOCUS: VARIANT [2 H AE U S E R ]
............................
178
20 CONCLUSION AND OUTLOOK 187
20.1 C R E D
IT........................................................................................
186
20.2 HOUSING M A RK E
T........................................................................
187
20.3 CAPITAL I N C O M E
........................................................................
188
20.4 INTEREST RA TE S
..............................................................................
188
21 DATA SOURCES 191
22 APPENDIX 193
22.1 NEW FILE: N J O A N S E
T.................................................................. 193
22.2 NEW FILE: N_LOANSET_ANSCHLUSS
...............................................
202
22.3 CHANGES IN FILE: HOUSEHOLDS JNITIALIZATION_M ULTIPLE.............
210
22.4 CHANGES TO FILE: CENTRALBANK-TAYLORPOLICY
............................
217
22.5 CHANGES TO FILE: HOUSEHOLDS_REPAY_MORTGAGE_TO_BANKS . . . 220
22.6 CHANGES TO FILE: HOUSEHOLDS_HOUSING_DECISION......................
226
22.7 CHANGES IN FILE: HOUSEHOLDSJIOUSINGMARKET
.........................
231
22.8 CHANGES TO FILE: BANKS_TRANSFER_MONEY_TO_FUNDS...................
245
22.9 CHANGES TO FILE: HOUSEHOLD_CHOOSE_FUND
...............................
250
|
| any_adam_object | 1 |
| author | Kim, Chong Dae |
| author_GND | (DE-588)1170685048 |
| author_facet | Kim, Chong Dae |
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| building | Verbundindex |
| bvnumber | BV045377230 |
| classification_rvk | QT 360 |
| ctrlnum | (OCoLC)1080950899 (DE-599)DNB1166783863 |
| discipline | Wirtschaftswissenschaften |
| format | Thesis Book |
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| spelling | Kim, Chong Dae Verfasser (DE-588)1170685048 aut Three essays on housing market analysis in Germany Chong Dae Kim Hamburg Verlag Dr. Kovač 2018 xxii, 260 Seiten Diagramme 21 cm, 385 g txt rdacontent n rdamedia nc rdacarrier Schriftenreihe volkswirtschaftliche Forschungsergebnisse Band 225 Dissertation Universität Witten/Herdecke 2018 Immobilienmarkt (DE-588)4123416-9 gnd rswk-swf Deutschland (DE-588)4011882-4 gnd rswk-swf Immobilienmarkt Mathematische Methoden Multiple Lineare Regression DSGE-Modell Agentenbasierte Modellierung Hypothek Wohnungspreise Modellbewertung (DE-588)4143413-4 Aufsatzsammlung gnd-content (DE-588)4113937-9 Hochschulschrift gnd-content Deutschland (DE-588)4011882-4 g Immobilienmarkt (DE-588)4123416-9 s DE-604 Verlag Dr. Kovač (DE-588)16100321-7 pbl Schriftenreihe volkswirtschaftliche Forschungsergebnisse Band 225 (DE-604)BV011622667 225 B:DE-101 application/pdf http://d-nb.info/1166783863/04 Inhaltsverzeichnis DNB Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=030763626&sequence=000001&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Kim, Chong Dae Three essays on housing market analysis in Germany Schriftenreihe volkswirtschaftliche Forschungsergebnisse Immobilienmarkt (DE-588)4123416-9 gnd |
| subject_GND | (DE-588)4123416-9 (DE-588)4011882-4 (DE-588)4143413-4 (DE-588)4113937-9 |
| title | Three essays on housing market analysis in Germany |
| title_auth | Three essays on housing market analysis in Germany |
| title_exact_search | Three essays on housing market analysis in Germany |
| title_full | Three essays on housing market analysis in Germany Chong Dae Kim |
| title_fullStr | Three essays on housing market analysis in Germany Chong Dae Kim |
| title_full_unstemmed | Three essays on housing market analysis in Germany Chong Dae Kim |
| title_short | Three essays on housing market analysis in Germany |
| title_sort | three essays on housing market analysis in germany |
| topic | Immobilienmarkt (DE-588)4123416-9 gnd |
| topic_facet | Immobilienmarkt Deutschland Aufsatzsammlung Hochschulschrift |
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