A Valuation of the Swedish Real Estate Market. An Autoregressive Distributed Lagged Model Approach.
Abstract
I study the valuation of the Swedish real estate market by using an error correction model
(ECM). I estimate an ECM by using an autoregressive distributed lag model (ARDL). By
choosing an ARDL model, this paper overcomes previous critic; that all variables are assumed
to be integrated of the same order. This model displays similar results as previous research,
even though it estimates variables of different orders. Further, I find that the coefficients in the
model are unstable, indicating that the effect from the fundamental factors to real estate prices
changes over time. At last, I do find a small overvaluation at 0.96 percent in the Swedish real
estate market.
Degree
Master 2-years
Other description
MSc in Economics
Collections
View/ Open
Date
2017-07-28Author
Winberg, Alexander
Series/Report no.
Master Degree Project
2017:111
Language
eng