Bubbles in the European Real Estate market: intrinsic or rational speculative?

Detalhes bibliográficos
Autor(a) principal: Oliveira, Henrique Guedes Neves Duarte de
Data de Publicação: 2018
Tipo de documento: Dissertação
Idioma: eng
Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
Texto Completo: http://hdl.handle.net/10362/32548
Resumo: The purpose of this dissertation is to model the real estate market of four European countries (Spain, UK, Ireland and France), over recent years, to assess during which periods there was a deviation of the property price from its fundamental value, and whether these deviations are the result of unrealistic expectations about its future price, or from an overreaction to changes in fundamentals. A quantile regression and a Markov-switching model were performed, to conclude that for Spain and the UK unrealistic expectations predominated, whereas for France and Ireland an overreaction to changes in disposable income and rents lead to exuberant price behavior.
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spelling Bubbles in the European Real Estate market: intrinsic or rational speculative?House priceRational speculative bubblesMarkov-switching modelQuantile regressionIntrinsic bubbleDomínio/Área Científica::Ciências Sociais::Economia e GestãoThe purpose of this dissertation is to model the real estate market of four European countries (Spain, UK, Ireland and France), over recent years, to assess during which periods there was a deviation of the property price from its fundamental value, and whether these deviations are the result of unrealistic expectations about its future price, or from an overreaction to changes in fundamentals. A quantile regression and a Markov-switching model were performed, to conclude that for Spain and the UK unrealistic expectations predominated, whereas for France and Ireland an overreaction to changes in disposable income and rents lead to exuberant price behavior.Rodrigues, Paulo Manuel MarquesRUNOliveira, Henrique Guedes Neves Duarte de2018-03-15T14:50:54Z2018-01-202018-01-20T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/masterThesisapplication/pdfhttp://hdl.handle.net/10362/32548TID:201861488enginfo:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2024-03-11T04:18:06Zoai:run.unl.pt:10362/32548Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-20T03:29:53.684155Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse
dc.title.none.fl_str_mv Bubbles in the European Real Estate market: intrinsic or rational speculative?
title Bubbles in the European Real Estate market: intrinsic or rational speculative?
spellingShingle Bubbles in the European Real Estate market: intrinsic or rational speculative?
Oliveira, Henrique Guedes Neves Duarte de
House price
Rational speculative bubbles
Markov-switching model
Quantile regression
Intrinsic bubble
Domínio/Área Científica::Ciências Sociais::Economia e Gestão
title_short Bubbles in the European Real Estate market: intrinsic or rational speculative?
title_full Bubbles in the European Real Estate market: intrinsic or rational speculative?
title_fullStr Bubbles in the European Real Estate market: intrinsic or rational speculative?
title_full_unstemmed Bubbles in the European Real Estate market: intrinsic or rational speculative?
title_sort Bubbles in the European Real Estate market: intrinsic or rational speculative?
author Oliveira, Henrique Guedes Neves Duarte de
author_facet Oliveira, Henrique Guedes Neves Duarte de
author_role author
dc.contributor.none.fl_str_mv Rodrigues, Paulo Manuel Marques
RUN
dc.contributor.author.fl_str_mv Oliveira, Henrique Guedes Neves Duarte de
dc.subject.por.fl_str_mv House price
Rational speculative bubbles
Markov-switching model
Quantile regression
Intrinsic bubble
Domínio/Área Científica::Ciências Sociais::Economia e Gestão
topic House price
Rational speculative bubbles
Markov-switching model
Quantile regression
Intrinsic bubble
Domínio/Área Científica::Ciências Sociais::Economia e Gestão
description The purpose of this dissertation is to model the real estate market of four European countries (Spain, UK, Ireland and France), over recent years, to assess during which periods there was a deviation of the property price from its fundamental value, and whether these deviations are the result of unrealistic expectations about its future price, or from an overreaction to changes in fundamentals. A quantile regression and a Markov-switching model were performed, to conclude that for Spain and the UK unrealistic expectations predominated, whereas for France and Ireland an overreaction to changes in disposable income and rents lead to exuberant price behavior.
publishDate 2018
dc.date.none.fl_str_mv 2018-03-15T14:50:54Z
2018-01-20
2018-01-20T00:00:00Z
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/masterThesis
format masterThesis
status_str publishedVersion
dc.identifier.uri.fl_str_mv http://hdl.handle.net/10362/32548
TID:201861488
url http://hdl.handle.net/10362/32548
identifier_str_mv TID:201861488
dc.language.iso.fl_str_mv eng
language eng
dc.rights.driver.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.source.none.fl_str_mv reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
instacron:RCAAP
instname_str Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
instacron_str RCAAP
institution RCAAP
reponame_str Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
collection Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
repository.name.fl_str_mv Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
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