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Property Prices and Speculative Bubbles [electronic resource] : Evidence From Hong Kong SAR, Duenwald, Christoph.

Author/Creator:
Duenwald, Christoph.
Publication:
Washington, D.C. : International Monetary Fund, 2000.
Format/Description:
Government document
Book
1 online resource (29 p.)
Series:
IMF eLibrary
IMF Working Papers; Working Paper No. 00/2.
IMF Working Papers; Working Paper No. 00/2
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Local subjects:
Autocorrelation. (search)
Calibration. (search)
Confidence intervals. (search)
Construction costs. (search)
Correlation. (search)
Econometrics. (search)
Empirical model. (search)
Equation. (search)
Explanatory power. (search)
Forecasting. (search)
Functional form. (search)
Housing development. (search)
Housing policy. (search)
Housing prices. (search)
Housing units. (search)
Land prices. (search)
Land sales. (search)
Metropolitan housing markets. (search)
Private real estate. (search)
Probability. (search)
Property developers. (search)
Property development. (search)
Random variable. (search)
Real estate. (search)
Real estate industry. (search)
Real estate market. (search)
Real estate markets. (search)
Real estate prices. (search)
Real property. (search)
Real property prices. (search)
Redevelopment. (search)
Residential real estate. (search)
Standard deviation. (search)
Statistic. (search)
Statistics. (search)
Stochastic process. (search)
Survey. (search)
Surveys. (search)
Time series. (search)
Hong Kong Special Administrative Region of China. (search)
Summary:
This paper examines the determinants of residential property prices in Hong Kong SAR during 1980–98. It uses time-series analysis techniques to characterize price developments, establish empirical regularities, and provide measures of the deviations of actual price changes from “trend.” The analysis suggests that at the peak of the boom, in mid-1997, the level of property prices may have been 40–45 percent above levels suggested by developments in “fundamentals.” The analysis highlights the role of demand-side factors, and the data are not inconsistent with the notion that the property market may be subject to speculative bubbles.
Notes:
Description based on print version record.
Contributor:
Duenwald, Christoph.
Other format:
Print Version:
ISBN:
1451841752:
9781451841756
ISSN:
1018-5941
Publisher Number:
10.5089/9781451841756.001
Access Restriction:
Restricted for use by site license.