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dc.contributor.authorBischoff, Oliveren
dc.date.accessioned2010-06-16-
dc.date.accessioned2010-12-03T11:10:44Z-
dc.date.available2010-12-03T11:10:44Z-
dc.date.issued2010en
dc.identifier.isbn978-3-940369-87-1en
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
dc.language.isoengen
dc.publisher|aUniversity of Hamburg, Faculty of Business, Economics and Social Sciences, Chair for Economic Policy |cHamburgen
dc.relation.ispartofseries|aHamburg Contemporary Economic Discussions |x36en
dc.subject.jelC2en
dc.subject.jelC31en
dc.subject.jelR11en
dc.subject.jelR13en
dc.subject.jelR21en
dc.subject.jelR31en
dc.subject.ddc330en
dc.subject.keywordRegional Housing Marketsen
dc.subject.keywordSpatial Equilibrium Analysisen
dc.subject.keywordSimultaneous Equationen
dc.subject.keywordGermanyen
dc.titleExplaining regional variation in equilibrium real estate prices and income-
dc.type|aWorking Paperen
dc.identifier.ppn628602758en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:hce:wpaper:036en

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