Determinants Of Fluctuations In House-Building In Denmark 1880–1940

E. Hoffmeyer and K. Mordhorst
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E. Hoffmeyer: Danmarks National bank
K. Mordhorst: Danmarks National bank

Chapter Chapter 8 in The Economic Problems Of Housing, 1967, pp 92-104 from Palgrave Macmillan

Abstract: Abstract During the inter-war period it became gradually accepted by most Danish economists and politicians that house-building is very sensitive to short-run variations in the long-term interest rate. The introduction of this view was probably mainly due to two circumstances: one was the heavy building crisis in 1907–8 accompanied by bank failures and shortage of money; another was the impact of Wicksell’s theories on Danish economists. Since then it has been accepted almost as a matter of fact that house-building must be influenced strongly by short-term fluctuations in the long-term interest rate. Reference is mostly made to theoretical considerations—investment calculations in durable equipment—and rarely to thorough empirical investigations.

Keywords: Married Couple; Housing Stock; Vacancy Rate; Housing Shortage; Credit Mortgage (search for similar items in EconPapers)
Date: 1967
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Persistent link: https://EconPapers.repec.org/RePEc:pal:intecp:978-1-349-08473-9_8

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DOI: 10.1007/978-1-349-08473-9_8

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