Download or read book Explosive Behaviour in Australian Housing Markets written by Philip Ji and published by . This book was released on 2015 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: Using recently developed econometric procedures (Phillips, Wu and Yu, 2011; Phillips, Shi and Yu, 2015), we find evidence of temporary episodes of explosive behaviour in price-to-rent ratios for established houses, in five of Australia's largest cities. One interpretation of our results is that stochastic, rational bubbles were a feature of Australia's major housing markets; particularly during the early to mid-2000s. However, further analysis of each city's price-to-rent ratio indicates a very different pattern of behaviour in Sydney and Perth to that experienced in Brisbane, Adelaide and Canberra. For the latter three cities, we present evidence suggesting the explosive root tests are likely capturing the effects of a one-time structural break in their respective price-to-rent ratios. In any event, based on the estimated timing of the explosive episodes in Australia's housing markets, there is little evidence that what might be identified as house price bubbles had any important negative consequences for the wider economy. Despite the ability of the econometric procedures to provide a real-time signal of explosive behaviour, results from Australian housing markets, suggest policymakers need to be cautious in responding too aggressively to a positive signal from the tests.
Download or read book Bubbles and Crashes in the Australian Residential Property Market written by Dirk G. Baur and published by . This book was released on 2017 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper analyzes the evolution of Australian property prices, the relationships between cities, houses and units, the stock market and monetary policy. Using monthly house and unit prices for all eight capital cities we identify extended periods of explosive positive price changes followed by comparatively small corrections and no crashes. A comparison with Australian equity prices further reveals that the average risk and return are more favorable in the housing market emphasizing fundamental differences of the two markets such as liquidity and short-sale constraints. We also find evidence for financial contagion from the equity market to the housing market. A Vector Autoregression (VAR) shows that house price changes have a relatively strong effect on cash rate changes and thus monetary policy. The relative stability of Australian property prices over the last 20 years suggests that policy makers played a role by providing an accommodating environment.
Download or read book Recent Econometric Techniques for Macroeconomic and Financial Data written by Gilles Dufrénot and published by Springer Nature. This book was released on 2020-11-21 with total page 387 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book provides a comprehensive overview of the latest econometric methods for studying the dynamics of macroeconomic and financial time series. It examines alternative methodological approaches and concepts, including quantile spectra and co-spectra, and explores topics such as non-linear and non-stationary behavior, stochastic volatility models, and the econometrics of commodity markets and globalization. Furthermore, it demonstrates the application of recent techniques in various fields: in the frequency domain, in the analysis of persistent dynamics, in the estimation of state space models and new classes of volatility models. The book is divided into two parts: The first part applies econometrics to the field of macroeconomics, discussing trend/cycle decomposition, growth analysis, monetary policy and international trade. The second part applies econometrics to a wide range of topics in financial economics, including price dynamics in equity, commodity and foreign exchange markets and portfolio analysis. The book is essential reading for scholars, students, and practitioners in government and financial institutions interested in applying recent econometric time series methods to financial and economic data.
Download or read book Financial Macro and Micro Econometrics Using R written by Hrishikesh D. Vinod and published by North Holland. This book was released on 2020-01-24 with total page 350 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financial, Macro and Micro Econometrics Using R, Volume 42, provides state-of-the-art information on important topics in econometrics, including multivariate GARCH, stochastic frontiers, fractional responses, specification testing and model selection, exogeneity testing, causal analysis and forecasting, GMM models, asset bubbles and crises, corporate investments, classification, forecasting, nonstandard problems, cointegration, financial market jumps and co-jumps, among other topics. Presents chapters authored by distinguished, honored researchers who have received awards from the Journal of Econometrics or the Econometric Society Includes descriptions and links to resources and free open source R Gives readers what they need to jumpstart their understanding on the state-of-the-art
Download or read book Housing Affordability and Housing Investment Opportunity in Australia written by Muharem Karamujic and published by Springer. This book was released on 2015-08-18 with total page 237 pages. Available in PDF, EPUB and Kindle. Book excerpt: Contrary to other developed economies, Australia has experienced a long-term deterioration in housing affordability even between housing price booms. The house price boom that came after the global financial crisis has intensified the stress on Australian housing affordability to yet higher levels, and is likely to continue to be a concern for some time to come. This book reviews a range of available approaches for the measurement of housing affordability, and examines recent empirical evidence on housing affordability in Australia. It begins by explaining the relevance of housing to governments at different levels, the emergence of the housing affordability problem, and the global importance of housing affordability. It then explores the causes of the recent explosion in the number of institutions offering home loan products, analysing features such as the size, composition and changes in total lending and home lending in Australia. The author goes on to investigate the consequences of the two most recent rounds of financial deregulation, as well as the trends in interest rate and property prices, and recent changes in typical borrower behaviour. The book concludes by reviewing a range of available approaches in the measurement of housing affordability. It assesses whether there is a level of adjustment in housing affordability, and finally analyses which housing market segment represents the better investment opportunity during housing boom periods.
Download or read book Journal of Housing Research written by and published by . This book was released on 2006 with total page 1430 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Australia s Economy in Its International Context Volume 2 1956 2012 written by Kym Anderson and published by University of Adelaide Press. This book was released on 2012 with total page 711 pages. Available in PDF, EPUB and Kindle. Book excerpt: This two-volume collection brings together the first 56 Joseph Fisher Lectures in economics and commerce, presented at the Adelaide University every other year since 1904. Funds for the Lectures, together with a medal for the top accounting student each year, were kindly provided by a £1,000 endowment to the University by the prominent Adelaide businessman Joseph Fisher in 1903. The Lectures address a wide range of Australian economic issues, in addition to some international economic issues of national significance. They have stood the test of time extremely well, while also providing a reminder of the events and concerns that were prominent at different times during the past century.
Download or read book General Equilibrium written by W. D. A. Bryant and published by World Scientific. This book was released on 2010 with total page 492 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This book focuses on the foundations of general equilibrium theory, more specifically on the existence, uniqueness, stability, optimality and comparative static properties of equilibrium states. It also explores the question of the empirical relevance of equilibrium states. It highlights a series of 'relationship conditions' which are essential for the existence of equilibrium, but appear in optimality results." -- PUBLISHER WEBSITE.
Download or read book Arms Explosives written by and published by . This book was released on 1908 with total page 410 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Australia s Boldest Experiment written by Stuart Macintyre and published by NewSouth. This book was released on 2015-06-01 with total page 459 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this landmark book, Stuart Macintyre explains how a country traumatised by World War I, hammered by the Depression and overstretched by World War II became a prosperous, successful and growing society by the 1950s. An extraordinary group of individuals, notably John Curtin, Ben Chifley, Nugget Coombs, John Dedman and Robert Menzies, re-made the country, planning its reconstruction against a background of wartime sacrifice and austerity. The other part of this triumphant story shows Australia on the world stage, seeking to fashion a new world order that would bring peace and prosperity. This book shows the 1940s to be a pivotal decade in Australia. At the height of his powers, Macintyre reminds us that key components of the society we take for granted – work, welfare, health, education, immigration, housing – are not the result of military endeavour but policy, planning, politics and popular resolve.
Download or read book Routledge Companion to Real Estate Investment written by Bryan D. MacGregor and published by Routledge. This book was released on 2018-12-07 with total page 405 pages. Available in PDF, EPUB and Kindle. Book excerpt: Real estate represents an increasingly significant global asset class and its distinctive characteristics must be understood by investors and researchers. The Routledge Companion to Real Estate Investment provides an authoritative overview of the real estate asset class. The Companion focuses on the current academic research and its relevance for practical applications. The book is divided into four parts, each containing specially written chapters by international experts in the relevant field. The contributors cover the institutional context for real estate investment, the main players in real estate investment, real estate appraisal and performance measurement, and real estate portfolios and risk management. This Companion provides a comprehensive reference for students, academics and professionals studying, researching and working in real estate investment, finance and economics.
Download or read book Educating Australia written by Simon Marginson and published by Cambridge University Press. This book was released on 1997-10-13 with total page 306 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a history of three decades of Australian education systems, programs and policies. Drawing on economic and sociological data, key texts and political events, it traces the shift from universal public provision to market systems and examines the implications of this change for the labour market and the economy. An important focus of the book is the discussion of the extension of citizenship through education.
Download or read book Australian Books in Print written by and published by . This book was released on 1995 with total page 1354 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Australia s Unintended Cities written by Richard Tomlinson and published by CSIRO PUBLISHING. This book was released on 2012-11-23 with total page 205 pages. Available in PDF, EPUB and Kindle. Book excerpt: Australia’s Unintended Cities identifies and researches housing and housing-related urban outcomes that are unintended consequences of other policies, the structure of incentives and disincentives for the housing market, and governance arrangements for metropolitan areas and planning and service delivery. It is argued that unintended consequences have a greater impact on the housing market and Australia’s cities and their future than policies directly concerned with housing, urban policy and metropolitan strategic planning. The book will inform policy makers, including government officials, consultants and politicians. It will also be used by academics and students in various areas of urban policy, such as housing and urban planning, as well as environment, public policy and economics.
Download or read book Explosion Green written by David Gottfried and published by Morgan James Publishing. This book was released on 2014-06-02 with total page 305 pages. Available in PDF, EPUB and Kindle. Book excerpt: Explosion Green tells the twenty-year story of the global green building movement through the eyes of David Gottfried, the man who helped start it all. Explosion Green reveals the inner workings of the building industry as it comes to grips with the need for environmentally friendly practices. It describes how the industry has evolved, and how this evolution has helped fight climate change and prevent further damage to the environment while creating a multibillion-dollar industry. Filled with his unique insight and self-deprecating humor, Gottfried’s riveting memoir demonstrates how one person can start a global movement. "Explosion Green" has won three 2014 Indie Book Awards: Second Place Grand Prize for Non-fiction, Business Category, and Memoir Category
Download or read book Australian Science in the Making written by R. W. Home and published by Cambridge University Press. This book was released on 1990-09-28 with total page 474 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this 1989 volume the Australian Academy of Science celebrates and assesses two centuries of Australian science.
Download or read book Law and Corporate Behaviour written by Christopher Hodges and published by Bloomsbury Publishing. This book was released on 2015-10-22 with total page 803 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines the theories and practice of how to control corporate behaviour through legal techniques. The principal theories examined are deterrence, economic rational acting, responsive regulation, and the findings of behavioural psychology. Leading examples of the various approaches are given in order to illustrate the models: private enforcement of law through litigation in the USA, public enforcement of competition law by the European Commission, and the recent reform of policies on public enforcement of regulatory law in the United Kingdom. Noting that behavioural psychology has as yet had only limited application in legal and regulatory theory, the book then analyses various European regulatory structures where behavioural techniques can be seen or could be applied. Sectors examined include financial services, civil aviation, pharmaceuticals, and workplace health & safety. Key findings are that 'enforcement' has to focus on identifying the causes of non-compliance, so as to be able to support improved performance, rather than be based on fear motivating complete compliance. Systems in which reporting is essential for safety only function with a no-blame culture. The book concludes by proposing an holistic model for maximising compliance within large organisations, combining public regulatory and criminal controls with internal corporate systems and external influences by stakeholders, held together by a unified core of ethical principles. Hence, the book proposes a new theory of ethical regulation.
