Bubbles in the European Real Estate market: intrinsic or rational speculative?
Autor(a) principal: | |
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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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7160 |
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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 |
repository.mail.fl_str_mv |
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1799137923905355776 |