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dc.contributor.authorBischoff, Oliveren_US
dc.date.accessioned2010-06-16en_US
dc.date.accessioned2010-12-03T11:10:44Z-
dc.date.available2010-12-03T11:10:44Z-
dc.date.issued2010en_US
dc.identifier.isbn978-3-940369-87-1en_US
dc.identifier.urihttp://hdl.handle.net/10419/42237-
dc.description.abstractWe combine the real estate model of Potepan (1996) with the spatial equilibrium approach of Roback (1982) to prove the interdependency of housing prices, rental prices, building land prices and income via one simultaneous equilibrium analysis. Using unique cross-sectional data on the majority of German counties and cities for 2005, we estimate the equations in their structural and reduced form. The results show significantly positive interaction effects of income and real estate prices. Moreover, we can confirm model predictions concerning the majority of exogenous determinants. In particular, expectations about population development seem to be among the most important determinants of price and income disparities between regions in the long term.en_US
dc.language.isoengen_US
dc.publisherUniv, Fak. Wirtschafts- und Sozialwiss., Dep. Wirtschaftswiss. Hamburgen_US
dc.relation.ispartofseriesHamburg contemporary economic discussions 36en_US
dc.subject.jelC2en_US
dc.subject.jelC31en_US
dc.subject.jelR11en_US
dc.subject.jelR13en_US
dc.subject.jelR21en_US
dc.subject.jelR31en_US
dc.subject.ddc330en_US
dc.subject.keywordRegional Housing Marketsen_US
dc.subject.keywordSpatial Equilibrium Analysisen_US
dc.subject.keywordSimultaneous Equationen_US
dc.subject.keywordGermanyen_US
dc.titleExplaining regional variation in equilibrium real estate prices and incomeen_US
dc.typeWorking Paperen_US
dc.identifier.ppn628602758en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
Appears in Collections:Hamburg Contemporary Economic Discussions, Lehrstuhl für Wirtschaftspolitik, Universität Hamburg

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