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Deutsche Bundesbank, Forschungszentrum, Frankfurt am Main >
Discussion Paper Series 1: Economic Studies, Deutsche Bundesbank >
Please use this identifier to cite or link to this item:
http://hdl.handle.net/10419/36660
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Full metadata record
| DC Field | | Value | | Language |
| dc.contributor.author | | Dümmler, Tobias | | en_US |
| dc.contributor.author | | Kienle, Stephan | | en_US |
| dc.date.accessioned | | 2010-06-30 | | en_US |
| dc.date.accessioned | | 2010-07-20T13:42:35Z | | - |
| dc.date.available | | 2010-07-20T13:42:35Z | | - |
| dc.date.issued | | 2010 | | en_US |
| dc.identifier.isbn | | 978-3-86558-625-4 | | en_US |
| dc.identifier.uri | | http://hdl.handle.net/10419/36660 | | - |
| dc.description.abstract | | We develop a formula for user costs of housing on the basis of a neoclassical approach to housing investment which does not impose a perfect capital market assumption. We suggest that the definition for the user costs of housing should be extended by an additional term which mirrors the credit constraints a household would be faced with. This extension term consists of the inflation gap between consumer and house price inflation multiplied with an average loan-to-value ratio and the real house prices. The empirical relevance of our finding is confirmed by a VECM. A time series for the user costs of housing is calculated using this extended definition. | | en_US |
| dc.language.iso | | eng | | en_US |
| dc.publisher | | Dt. Bundesbank Frankfurt, M. | | en_US |
| dc.relation.ispartofseries | | Discussion Paper Series 1: Economic Studies 2010,12 | | en_US |
| dc.subject.jel | | C32 | | en_US |
| dc.subject.jel | | E13 | | en_US |
| dc.subject.jel | | E22 | | en_US |
| dc.subject.ddc | | 330 | | en_US |
| dc.subject.keyword | | Housing investments | | en_US |
| dc.subject.keyword | | user costs of housing | | en_US |
| dc.subject.keyword | | cointegration | | en_US |
| dc.subject.stw | | Wohnkosten | | en_US |
| dc.subject.stw | | Wohneigentum | | en_US |
| dc.subject.stw | | Wohnungsbauinvestition | | en_US |
| dc.subject.stw | | Verschuldungsrestriktion | | en_US |
| dc.subject.stw | | Kapitalkosten | | en_US |
| dc.subject.stw | | Schätzung | | en_US |
| dc.subject.stw | | Deutschland | | en_US |
| dc.title | | User costs of housing when households face a credit constraint: evidence for Germany | | en_US |
| dc.type | | Working Paper | | en_US |
| dc.identifier.ppn | | 630339503 | | en_US |
| dc.rights | | http://www.econstor.eu/dspace/Nutzungsbedingungen | | - |
| Appears in Collections: | | Discussion Paper Series 1: Economic Studies, Deutsche Bundesbank
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