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Determinants of the Spanish housing market over three decades and three booms: Long run supply and demand elasticities

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dc.contributor.author Arrazola, María
dc.contributor.author de Hevia, José
dc.contributor.author Romero, Desiderio
dc.contributor.author Sanz-Sanz, José Félix
dc.date.accessioned 2014-10-12T20:33:42Z
dc.date.accessioned 2022-07-06T22:24:33Z
dc.date.available 2014-10-12T20:33:42Z
dc.date.available 2022-07-06T22:24:33Z
dc.date.copyright 2014
dc.date.issued 2014
dc.identifier.uri https://ir.wgtn.ac.nz/handle/123456789/18852
dc.description.abstract This paper offers a quantitative analysis of housing supply and demand in Spain. To this end, it formulates a model in line with the traditional models of the literature. Using Spanish data for the period 1975 to 2009, reduced form and structural models are estimated. The results obtained show that faced with situations of disequilibrium prices adjust more rapidly than stock. Similarly, they demonstrate that demand shows low sensitivity to variations in prices and real interest rates. By contrast, it is highly sensitive to demographic changes and the evolution of the labor market. The evidence confirms that permanent income has greater weight than prices as a determinant of demand. Moreover, supply is very sensitive to variations in prices and interest rates. en_NZ
dc.format pdf en_NZ
dc.language.iso en_NZ
dc.publisher Te Herenga Waka—Victoria University of Wellington en_NZ
dc.relation.ispartofseries Working Papers in Public Finance ; 13/2014 en_NZ
dc.subject Housing booms en_NZ
dc.subject Demand en_NZ
dc.subject Supply en_NZ
dc.subject Elasticities en_NZ
dc.subject Spain en_NZ
dc.title Determinants of the Spanish housing market over three decades and three booms: Long run supply and demand elasticities en_NZ
dc.type Text en_NZ
vuwschema.contributor.unit School of Accounting and Commercial Law en_NZ
vuwschema.subject.anzsrcfor 120503 Housing Markets, Development, Management en_NZ
vuwschema.type.vuw Working or Occasional Paper en_NZ
vuwschema.subject.anzsrcforV2 330403 Housing markets, development and management en_NZ
dc.rights.rightsholder www.victoria.ac.nz/sacl/about/cpf en_NZ

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