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dc.contributor.authorSchindler, Felixen_US
dc.date.accessioned2010-06-04en_US
dc.date.accessioned2010-07-07T13:29:21Z-
dc.date.available2010-07-07T13:29:21Z-
dc.date.issued2010en_US
dc.identifier.urihttp://hdl.handle.net/10419/36381-
dc.description.abstractExtending the controversial findings from the relevant literature, the results from the quarterly transaction-based Nationwide indices from 1974 to 2009 provide further empirical evidence on the rejection of the weak-form version of efficiency in the U.K. housing market. In addition to conducting parametric and non-parametric tests, we apply technical trading strategies to test whether or not the inefficiencies can be exploited by investors earning excess returns. The empirical findings from the technical trading strategies support the results from the statistical tests and suggest that investors might be able to obtain excess returns from both autocorrelation- and moving average-based strategies compared to a buy-and-hold strategy for 10 out of 14 markets.en_US
dc.language.isoengen_US
dc.publisherZentrum für Europäische Wirtschaftsforschung (ZEW) Mannheimen_US
dc.relation.ispartofseriesZEW Discussion Papers 10-030en_US
dc.subject.jelG12en_US
dc.subject.jelG14en_US
dc.subject.jelG15en_US
dc.subject.jelR31en_US
dc.subject.ddc330en_US
dc.subject.keywordHousing marketen_US
dc.subject.keywordweak-form market efficiencyen_US
dc.subject.keywordrandom walk hypothesisen_US
dc.subject.keywordvariance ratio testsen_US
dc.subject.keywordruns testen_US
dc.subject.keywordtrading strategiesen_US
dc.subject.stwWohnungsmarkten_US
dc.subject.stwWohnimmobilienen_US
dc.subject.stwImmobilienmarkten_US
dc.subject.stwMarkteffizienzen_US
dc.subject.stwStatistischer Testen_US
dc.subject.stwSchätzungen_US
dc.subject.stwGroßbritannienen_US
dc.titleHow efficient is the U.K. housing market?en_US
dc.typeWorking Paperen_US
dc.identifier.ppn627400906en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
dc.identifier.repecRePEc:zbw:zewdip:10030-
Appears in Collections:Publikationen von Forscherinnen und Forschern des ZEW
ZEW Discussion Papers

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