The Evaluation of the Impact of Macroeconomic Indicators on the Performance of Listed Real Estate Companies and Reits

Cohen Viktorija () and Burinskas Arūnas ()
Additional contact information
Cohen Viktorija: Department of Economic Policy, Faculty of Economics and Business Administration, Vilnius University, Lithuania
Burinskas Arūnas: Department of Economic Policy, Faculty of Economics and Business Administration, Vilnius University, Lithuania

Ekonomika (Economics), 2020, vol. 99, issue 1, 79-92

Abstract: Using quarterly data from 2006 to 2019 (55 observations), this paper examines 18 Eurozone macroeconomic variables that represent monetary policy, external and construction sectors’ performance, economic growth, investment, households’ earnings, inflation and assesses their impact on the performance of the European listed real estate companies and REITs. Empirical results demonstrate that the European listed real estate market is strongly influenced by the supply side: the construction sector and the inflation of producers’ prices; while the demand side is strongly affected by the expansionary monetary policy of ECB. Furthermore, some primary findings propose that US expansionary monetary policy shocks have an effect on the European listed real estate market. This conclusion demands further thorough research.

Keywords: Real Estate Investment Trusts; European listed real estate securities; macroeconomic determinants; EPRA index (search for similar items in EconPapers)
Date: 2020
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://doi.org/10.15388/ekon.2020.1.5 (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:vrs:ekonom:v:99:y:2020:i:1:p:79-92:n:5

DOI: 10.15388/ekon.2020.1.5

Access Statistics for this article

Ekonomika (Economics) is currently edited by Algirdas Miskinis

More articles in Ekonomika (Economics) from Sciendo
Bibliographic data for series maintained by Peter Golla ().