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The Q Theory and th...
The Q Theory and the Swedish Housing Market - An Empirical Test
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- Berg, Lennart, 1941- (författare)
- Uppsala universitet,Nationalekonomiska institutionen
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- Berger, Tommy, 1958- (författare)
- Uppsala universitet,Institutet för bostads- och urbanforskning (IBF)
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(creator_code:org_t)
- Uppsala : Department of Economics, Uppsala University, 2005
- Engelska 16 s.
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Serie: Working paper / Department of Economics, Uppsala University (Online), 1653-6975 ; 2005:19
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Abstract
Ämnesord
Stäng
- We argue that major changes in economic policy have resulted in a more market driven demand for housing investment in Sweden as a result of changes in policy during the end of the 1980s and beginning of the 1990s. The used investment theory is Tobin’s transparent Q theory. Our results indicate, for the last period of the sample (1993-2003 quarterly data) that a high degree of correlation between the Q ratio and the (logarithm of) two different variables for housing investment exist. An error correction regression model, controlling for structural breaks, indicates also a stable long run relationship could be detected for the logarithm of building starts and the Q ratio between 1993-2003 but not between 1981-1992.
Ämnesord
- SAMHÄLLSVETENSKAP -- Ekonomi och näringsliv -- Nationalekonomi (hsv//swe)
- SOCIAL SCIENCES -- Economics and Business -- Economics (hsv//eng)
Nyckelord
- Economics
- Nationalekonomi
- Economics
- Nationalekonomi
Publikations- och innehållstyp
- pop (ämneskategori)
- rap (ämneskategori)