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http://hdl.handle.net/10419/45488
  

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dc.contributor.authorKajuth, Florianen_US
dc.contributor.authorSchmidt, Tobiasen_US
dc.date.accessioned2011-05-06en_US
dc.date.accessioned2011-05-12T09:33:11Z-
dc.date.available2011-05-12T09:33:11Z-
dc.date.issued2011en_US
dc.identifier.isbn978-3-86558-705-3en_US
dc.identifier.urihttp://hdl.handle.net/10419/45488-
dc.description.abstractThe contribution of this paper is to offer a rationale for the observed seasonal pattern in house prices. We first document seasonality in house prices for the US and the UK using formal statistical tests and illustrate its quantitative importance. In the second part of the paper we employ a standard model of dynamic optimisation with housing demand and seasonal shocks in non-durables in order to characterise seasonality in house prices as an equilibrium outcome. We provide empirical evidence for seasonality in house prices with our small model using US and UK data.en_US
dc.language.isoengen_US
dc.publisherDt. Bundesbank Frankfurt, M.en_US
dc.relation.ispartofseriesDiscussion Paper Series 1: Economic Studies 2011,08en_US
dc.subject.jelD91en_US
dc.subject.jelR21en_US
dc.subject.jelR31en_US
dc.subject.ddc330en_US
dc.subject.keywordhouse pricesen_US
dc.subject.keywordseasonalityen_US
dc.subject.keywordoptimal housing consumptionen_US
dc.titleSeasonality in house pricesen_US
dc.typeWorking Paperen_US
dc.identifier.ppn657435813en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
dc.identifier.repecRePEc:zbw:bubdp1:201108-
Appears in Collections:Discussion Paper Series 1: Economic Studies, Deutsche Bundesbank

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