Gateway to Think Tanks
来源类型 | Working Paper |
规范类型 | 报告 |
DOI | 10.3386/w3368 |
来源ID | Working Paper 3368 |
Forecasting Prices and Excess Returns in the Housing Market | |
Karl E. Case; Robert J. Shiller | |
发表日期 | 1990-05-01 |
出版年 | 1990 |
语种 | 英语 |
摘要 | The U. S. market for homes appears not to be efficient. A number of information variables predict housing price changes and excess returns of housing relative to debt over the succeeding year. Price changes observed over one year tend to continue for one more year in the same direction. Construction cost divided by price, the change in per capita real income, the change in adult population are all positively related to price changes or excess returns over the subsequent year. The results are based on time-series cross section regressions with quarterly data 1970-1 to 1987-3 and for cities Atlanta, Chicago, Dallas, and San Francisco. |
主题 | Public Economics |
URL | https://www.nber.org/papers/w3368 |
来源智库 | National Bureau of Economic Research (United States) |
引用统计 | |
资源类型 | 智库出版物 |
条目标识符 | http://119.78.100.153/handle/2XGU8XDN/560657 |
推荐引用方式 GB/T 7714 | Karl E. Case,Robert J. Shiller. Forecasting Prices and Excess Returns in the Housing Market. 1990. |
条目包含的文件 | ||||||
文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
w3368.pdf(280KB) | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 |
除非特别说明,本系统中所有内容都受版权保护,并保留所有权利。