EconStor >
Hamburgisches WeltWirtschaftsInstitut (HWWI) >
HWWI Research Papers, Hamburgisches WeltWirtschaftsInstitut >

Please use this identifier to cite or link to this item:

http://hdl.handle.net/10419/48233
  
Title:Monetary policy and real estate prices: A disaggregated analysis for Switzerland PDF Logo
Authors:Berlemann, Michael
Freese, Julia
Issue Date:2010
Series/Report no.:HWWI Research paper 2-19
Abstract:Most empirical studies found that monetary policy has a significant effect on house prices while stock markets remain unaffected by interest rate shocks. In this paper we conduct a more detailed analysis by studying various sub-segments of the real estate market. Em-ploying a new dataset for Switzerland we estimate vector autoregressive models and find substitution effects between house and apartment prices on the one hand and rental prices on the other. Interestingly enough, commercial property prices do not react on interest rate variations.
Subjects:monetary policy
interest rate shocks
real estate
stock market
JEL:E43
E52
R21
Document Type:Working Paper
Appears in Collections:HWWI Research Papers, Hamburgisches WeltWirtschaftsInstitut

Files in This Item:
File Description SizeFormat
642933375.pdf5.38 MBAdobe PDF
No. of Downloads: Counter Stats
Download bibliographical data as: BibTeX
Share on:http://hdl.handle.net/10419/48233

Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.