Econometric Analysis of the Real Estate Market and Investment (Routledge Studies in Business Organizations and Networks)

This book provides an economic and ecnonometric analysis of real estate investment and real estate market behavior. Wang examines fluctuations in the real estate business to reveal the mechanisms governing the interactions between the industry and other sectors of the economy. Book cover......Page 1 Half-title......Page 2 Title......Page 4 Copyright......Page 5 Contents......Page 6 Figures......Page 8 Tables......Page 9 Preface......Page 14 Part I: Preliminaries......Page 18 1. Background......Page 19 2. Real estate and the economy......Page 32 3. Theories of dynamics......Page 48 Part II: The dynamic behaviour of economic and financial time series......Page 65 4. Trends, cycles and persistence......Page 69 5. A unified representation of economic fluctuations and dynamics......Page 81 Part III: The dynamic behaviour of real estate......Page 97 6. Recapturing market information from appraisal-based real estate indices......Page 98 7. Real estate’s response to shocks......Page 112 8. Price discovery and study of real estate market efficiency......Page 133 9. Cyclical fluctuations in the real estate market......Page 142 10. Summary......Page 157 Bibliography......Page 163 Index of names......Page 176 Subject index......Page 182 The author draws upon literature of the business cycle, the efficient market hypothesis and rational expectations, while applying and discussing econometric methods that include those used for investigating trends and cycles, decomposition of trends and cycles, common trends and common cycles, and univariate and multivariate shock persistence profiles." "This book should prove to be valuable reading for financial economists and econometricians, real estate researchers and doctoral students and researchers working in finance with a focus on financial markets."--Jacket. "Addressing new developments in financial and economic research, the workings of the real estate market are analysed through theory and the use of econometric models, with real cases demonstrating the applications. The methodology and theoretical developments in the book are universal to the professions of economics, econometrics and finance, but it is the first time that many of them have been applied to real estate research, particularly in book-length format. This book provides an economic and econometric analysis of real estate investment and real estate market behaviour. Peijie Wang examines fluctuations in the real estate business to reveal the mechanisms governing the interactions between the industry and other sectors of the economy. "This book provides an economic and econometric analysis of real estate investment and real estate market behaviour. The author examines fluctuations in the real estate business to reveal the mechanisms governing the interaction between real estate and other sectors of the economy." This book studies real estate market behaviour in the UK in an economic and econometric analytical framework.