| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP10166 |
| DP10166 No Price Like Home: Global House Prices, 1870-2012 | |
| Moritz Schularick; Thomas Steger; Katharina Knoll | |
| 发表日期 | 2014-09-28 |
| 出版年 | 2014 |
| 语种 | 英语 |
| 摘要 | How have house prices evolved over the long-run? This paper presents annual house prices for 14 advanced economies since 1870. Based on extensive data collection, we show that real house prices stayed constant from the 19th to the mid-20th century, but rose strongly during the second half of the 20th century. Land prices, not replacement costs, are the key to understanding the trajectory of house prices. Rising land prices explain about 80 percent of the global house price boom that has taken place since World War II. Higher land values have pushed up wealth-to-income ratios in recent decades. |
| 主题 | Economic History ; International Macroeconomics |
| 关键词 | House prices Land prices Neoclassical theory Transportation costs |
| URL | https://cepr.org/publications/dp10166 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/538999 |
| 推荐引用方式 GB/T 7714 | Moritz Schularick,Thomas Steger,Katharina Knoll. DP10166 No Price Like Home: Global House Prices, 1870-2012. 2014. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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