Efficiency in the market for cooperative dwellings

Karl Robertsen Eretveit and Theis Theisen

ERES from European Real Estate Society (ERES)

Abstract: Since the seminal contribution of Case and Shiller (1989) several papers on the efficiency properties of housing markets have appeared. Nevertheless, there is still not full agreement on whether the housing market functions as an efficient market or not. In the present paper we apply two different methods, developed by Hjalmarsson and Hjalmarsson (2009), and Robertsen and Theisen (2011), along with a new data set. We examine whether methodological differences may explain the somewhat conflicting results of these authors. In order to focus on the role of the modes of analysis, we use data only for cooperative housing, and concentrate on one single issue, namely on whether variations in mutual debt between different dwellings is perfectly reflected in the price at which the dwellings are sold.

JEL-codes: R3 (search for similar items in EconPapers)
Date: 2012-01-01
References: Add references at CitEc
Citations:

Downloads: (external link)
https://eres.architexturez.net/doc/oai-eres-id-eres2012-133 (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:arz:wpaper:eres2012_133

Access Statistics for this paper

More papers in ERES from European Real Estate Society (ERES) Contact information at EDIRC.
Bibliographic data for series maintained by Architexturez Imprints ().