Commercial real estate in the euro area: macroeconomic or idiosyncratic shocks?

L'immobilier commercial en zone euro, chocs macroéconomiques ou idiosyncrasiques ?

Aurélien Espic

Eco Notepad (in progress) from Banque de France

Abstract: Commercial real estate prices are an important driver of business investment. This post quantifies the role of macroeconomic, financial and idiosyncratic factors in commercial real estate price dynamics in the euro area. Over the entire period studied, commercial real estate appears to have been a channel of transmission of macroeconomic and financial shocks, especially since 2015.

Les prix de l'immobilier commercial constituent un déterminant important de l'investissement des entreprises. Ce billet quantifie le rôle des facteurs macroéconomiques, financiers et idiosyncrasiques dans la dynamique des prix de l'immobilier commercial en zone euro. Sur l'ensemble de la période étudiée, l'immobilier commercial apparait comme un canal de transmission des chocs macroéconomiques et financiers, et en particulier depuis 2015.

Date: 2025-03-05
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.banque-france.fr/en/publications-and-s ... idiosyncratic-shocks
https://www.banque-france.fr/fr/publications-et-st ... -ou-idiosyncrasiques

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:bfr:econot:392

Access Statistics for this paper

More papers in Eco Notepad (in progress) from Banque de France Banque de France 31 Rue Croix des Petits Champs LABOLOG - 49-1404 75049 PARIS. Contact information at EDIRC.
Bibliographic data for series maintained by Michael brassart ().