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Título:
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Análisis y pronóstico del precio de la vivienda en España: modelo econométrico desde una perspectiva conductual
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Autor/a:
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Roig Hernando, Jaume; Gras Alomà, Ramon; Soriano Llobera, Juan Manuel
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Otros autores:
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Universitat Politècnica de Catalunya. Departament d'Organització d'Empreses; Universitat Politècnica de Catalunya. OPE - Organització de la Producció i d'Empresa (aspectes tècnics, jurídics i econòmics en Producció) |
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Abstract:
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The present paper develops an econometric model of the real estate cycle, focused on the analysis of the residential market in Spain, and aims to predict the future evolution of the average and fundamental prices of the housing industry. Unlike traditional models, the Econometric Model developed incorporates not only an extrinsic and intrinsic approach, but also analytical assumptions and criteria inherited from the Behavioral School. Contrasting the Modern Financial School theory, the Behavioral Finance School assumes the presence of irrational investors in the market. Thereby irrational decisions substantially influence, in a persistent way, whether underestimating or overestimating, the evolution of asset prices. This irrational influence is the fundamental basis of both expansive and depressive phases that shape the real estate cycle. |
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Abstract:
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Peer Reviewed |
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Materia(s):
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-Àrees temàtiques de la UPC::Arquitectura::Tipologies d'edificis::Habitatges
-Housing
-Residential Real Estate Prices
-Behavioural Finance
-Econometric Model
-Real Estate Cycle
-Forecast
-Real Estate Investment
-CYCLES
-Habitatge |
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Derechos:
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Tipo de documento:
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Artículo - Versión presentada
Artículo |
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