The Macroeconomic Determinants of House Prices and Rents

2021 ◽  
Vol 0 (0) ◽  
Author(s):  
Jakob Shida
Keyword(s):  
Interest Rates ◽  
Housing Stock ◽  
House Prices ◽  
Bank Lending ◽  
Negative Effects ◽  
Positive Effects ◽  
Negative Effect ◽  
Per Capita ◽  
Pricing Power ◽  
Macroeconomic Determinants

Abstract Based on panel error correction models for a sample of up to 21 countries, this paper analyses the macroeconomic determinants of house prices and rents. In accordance with the existing literature, I find significantly positive effects of per capita income and bank lending on house prices, whereas the housing stock per capita and interest rates have negative effects. For rents, the results are somewhat more remarkable, indicating that both the housing stock and interest rates have a negative effect. While contradicting conventional economic theory, the latter finding might be explained by real estate investors exploiting their pricing power with varying degree depending on the level of real interest rates. Moreover, the estimated impact of interest rates on both house prices and rents varies with structural housing market characteristics. For instance, while interest rates have a more pronounced effect on house prices in countries with more developed mortgage markets, the same does not hold for the effect of interest rates on rents.

scholarly journals Customer Value Co-Creation Intention, Practices and Experience in Self-Service Technologies

2021 ◽  
pp. 12-26
Author(s):  
Badra Sandamali Galdolage
Keyword(s):  
Customer Value ◽  
Service Providers ◽  
Service Encounters ◽  
Emotional Experiences ◽  
Negative Effects ◽  
Positive Effects ◽  
Negative Effect ◽  
Physical Interfaces ◽  
Self Service ◽  
Self Service Technology

Many service encounters are moving from traditional physical interfaces to technologically incorporated self-service options. However, it is surprising that very limited extant literature is devoted to understanding the movement towards self-service technologies. Therefore, this study aims at understanding customer value co-creation intention, practices including both the value co-creation and co-destruction and their co-creation experiences in self-service technology context. Based on the positivistic approach, a quantitative study carried out distributing self-administered questionnaires to 600 individuals chosen based on a non-probabilistic convenience sampling method. Study found that customer value co-creation intention has significant positive effects on customer value co-creation practices and significant negative effects on customer value co-destruction in SSTs. Value co-creation practices show a strong positive effect on customer functional experiences and ‘positive emotional experiences’ while having a negative effect on ‘negative emotional experiences. In contrast, co-destruction shows inverse relationships. This study assists practitioners to understand why customers collaborate with SSTs, what they do in co-creating value and how this links with their experience. Service providers can use this understanding to facilitate customer co-creation by securing positive customer experiences and achieving competitive advantage by designing and delivering value enhancing self-service technological interfaces from both strategic and operational perspectives.

Sanctuary Cities, Crime, and Incorporation

2019 ◽  
pp. 118-152
Author(s):  
Loren Collingwood ◽  
Benjamin Gonzalez O’Brien
Keyword(s):  
Voter Turnout ◽  
Crime Rates ◽  
Police Force ◽  
Crime Reporting ◽  
Immigrant Communities ◽  
Negative Effects ◽  
Positive Effects ◽  
Chief Complaints ◽  
Negative Effect

One of the chief complaints raised against sanctuary cities is that they can increase crime, while one argument in their favor is that they can increase the incorporation of Latino and immigrant communities. This chapter analyzes both the positive and negative effects of sanctuary polices, finding that these policies have no effect on crime rates when comparable cities are compared to one another and when crime rates pre/post sanctuary are examined. The findings show that sanctuary policies can have positive effects, potentially increasing both Latino voter turnout and police force representation. While sanctuary policies are found to have few downsides and potential positive benefits, antisanctuary legislation like Texas’s SB4 are found to have a negative effect. In high-immigrant areas, antisanctuary legislation is found to depress the number of 911 calls, suggesting that antisanctuary legislation does in fact reduce crime reporting, as opponents claim.

Are regional house prices stationary in Iran? New evidence using Fourier quantile unit root test

2019 ◽  
Vol 12 (5) ◽  
pp. 849-864
Author(s):  
Arash Hadizadeh
Keyword(s):  
Interest Rates ◽  
Housing Market ◽  
Unit Root ◽  
House Prices ◽  
Housing Prices ◽  
Unit Root Test ◽  
Generalized Least Squares ◽  
Main Concern ◽  
Content Type ◽  
Positive Effects

Purpose In the Iranian economy, investing in the housing market has been very important and beneficial for investors and households, because of inflationary environment, low real interest rates, underdeveloped financial and tax systems and economic sanctions. Hence, prediction of house prices is the main concern of housing market agents in the economy. The purpose of this paper is to test the stationary properties of Iran's provinces to improve the prediction of future housing prices. Design/methodology/approach In this paper, the authors have tested the stationary properties of 20 Iran’s province centers over the period from 1993 to 2017 using a novel Fourier quantile unit root test and conventional ordinary/generalized least squares (O/GLS) linear unit root/stationary tests. Findings According to conventional O/GLS linear unit root/stationary tests, most of the house prices series exhibit random walk behavior, whereas by applying the Fourier quantile unit root test, the null hypothesis of unit root is rejected for 15 out of 20 series. Other results indicated that house prices of cities responded differently to positive and negative shocks. Originality/value Previous studies only addressed conventional OLS or GLS linear unit root or stationary tests, but novel Fourier quantile unit root test was not used. New results were obtained based on this unit root test, that, as a priori knowledge, will help benefiting from the positive effects, or avoiding being victimized by the negative effects.

Slowdown in Bank Credit Growth: Aggregate Demand or Bank Non-performing Assets?

2018 ◽  
Vol 12 (3) ◽  
pp. 257-275 ◽  
Author(s):  
Ashima Goyal ◽  
Akhilesh Verma
Keyword(s):  
Interest Rates ◽  
Aggregate Demand ◽  
Balance Sheet ◽  
Bank Lending ◽  
Jel Classification ◽  
Capital Adequacy ◽  
Credit Growth ◽  
Bank Ownership ◽  
Negative Effect ◽  
Asset Quality

We estimate the determinants of credit and of non-performing assets (NPAs) using a firm and a bank panel with data up to 2015 in order to test bank lending against the aggregate demand channel as an explanation for slow Indian credit growth. The results support demand as the key constraint. Only demand variables affect corporate credit for a broad set of firms. Balance sheet weakness reduced credit only for a narrow subset of indebted firms in a difference-in-difference type analysis. Even so, sales remained the dominant variable. From the bank panel, the asset quality review (AQR) did have a strong negative effect on advances but gross NPAs did not. While high interest rates and low growth raised NPAs, so did past credit. Low demand not only reduced credit, it also increased NPAs. That the capital adequacy ratio (CAR) significantly reduces NPAs points to the productivity of fund infusion. When other determinants are controlled, bank ownership does not affect NPA ratios, again supporting external shocks as causal. The results suggest that apart from structural reform to clean balance sheets, recovery of demand is necessary for revival of credit growth. JEL Classification: G21, E51

scholarly journals The Effects of Online Teaching on EFL Students’ Learning Motivation

2020 ◽  
Vol 4 (11) ◽  
Author(s):  
Yinying Xu
Keyword(s):  
Online Teaching ◽  
Structured Interview ◽  
Study Data ◽  
Learning Motivation ◽  
Multiple Sources ◽  
Negative Effects ◽  
Learning Group ◽  
Positive Effects ◽  
Negative Effect ◽  
Efl Students

This study investigates the positive and negative effects of online teaching on EFL students’ learning motivation. There are 26 English majors in a Chinese university participant in this study. Data were collected from multiple sources: semi-structured interview and direct observation. The result shows that in the course aspect, it has a positive effect. In the teacher aspect, it has both negative and positive effects. But in the learning group aspect, it has a negative effect, because of losing of students’ interaction.

scholarly journals Crime and Output

2020 ◽  
Vol 20 (2) ◽  
Author(s):  
Dmitry Plotnikov
Keyword(s):  
Occupational Choice ◽  
Structural Model ◽  
Linear Effect ◽  
Positive Effects ◽  
Costs Of Crime ◽  
Percent Increase ◽  
Policy Experiments ◽  
Negative Effect ◽  
Per Capita ◽  
Percent Decline

This paper presents a structural model of crime and output. Individuals make an occupational choice between criminal and legal activities. The return to becoming a criminal is endogenously determined in a general equilibrium together with the level of crime and economic activity. I calibrate the model to the Northern Triangle countries and conduct several policy experiments. I find that for a country like Honduras crime reduces GDP by about 3 percent through its negative effect on employment indirectly, in addition to direct costs of crime associated with material losses, which are in line with literature estimates. Also, the model generates a non-linear effect of crime on output and vice versa. On average I find that a one percent increase in output per capita implies about ½ percent decline in crime, while a decrease of about 5 percent in crime leads to about one percent increase in output per capita. These positive effects are larger if the initial level of crime is larger.

scholarly journals Does Usage of Online Social Media Help Users With Depressed Symptoms Improve Their Mental Health? Empirical Evidence From an Online Depression Community

2021 ◽  
Vol 8 ◽  
Author(s):  
Yingjie Lu ◽  
Taotao Pan ◽  
Jingfang Liu ◽  
Jun Wu
Keyword(s):  
Online Community ◽  
Two Dimensions ◽  
Three Dimensions ◽  
Negative Effects ◽  
Positive Effects ◽  
Shared Identity ◽  
Online Social Media ◽  
Negative Effect ◽  
Practical Implications ◽  
Depressed Symptoms

Online depression communities offer people with depressed symptoms new opportunities to obtain health information and provide social support for each other to fight against the depression. We sought to investigate whether usage of online community help improve depression outcomes and determine which types of usage behaviors have positive or negative effects on depression. We proposed that two dimensions of the sense of belonging (sense of identity and trust) and three dimensions of the sense of support (informational, emotional, and socializing) have significant effects on depression, and further considered gender difference and its effect on depression. We obtained a dataset consisting of 465,337 posts from 244 members from a popular online depression community to test all 10 proposed hypotheses. The results reveal that (i) the sense of shared identity, trust, informational support, and emotional support have positive effects on depression, while socializing support have negative effects on depression, and (ii) the sense of shared identity and trust have more positive effects on depression for female users than male users while socializing support has a more negative effect on depression for female users than for male users. The findings have important practical implications for designers and managers of online depression communities.

scholarly journals THE EFFECTS OF SOCIAL MEDIA ON THE MORALITY OF MUSLIM YOUTHS IN NIGERIA

2020 ◽  
Vol 7 (7) ◽  
pp. 10-20
Author(s):  
Folami, Ahmadu Bolanle,
Keyword(s):  
Social Media ◽  
Quantitative Data ◽  
Media Violence ◽  
Negative Effects ◽  
Qualitative And Quantitative ◽  
Positive Effects ◽  
Meaningful Information ◽  
Quantitative Data Analysis ◽  
Negative Effect ◽  
The Media

The study aims at shedding light on the positive and negative effects of social media on the lives of Muslim youths’ in Nigeria. although, it is an avenue to reach out to people, gather and spread information to one another in the Muslim domain. However, the youths have also lost their dignity through it, because it is another avenue for fraudulent activities. The work examines the effects of both electronic and print media on the socio-religious spheres of Muslim youths. The ability to use the media for “ networking” has played a significant role in the lives of these youths. As technology continues to evolve, including the means to connect and communicate in cyberspace, young Muslims see it as an opportunity for them to be heard. The researcher employed the use of qualitative and quantitative data analysis in carrying out this study as well as conducting structural interviews inorder to elicit useful information. The research finally suggests that, despite the positive effects of social media on Muslim youths’ through Facebook, Twitter, Instagram WhatsApp, e.t.c in passing meaningful information across the board its negative effect of promoting moral decadence like character assassination, media violence, nudity, obscene movies and videos that have challenged the moral values of a practicing Muslim were not to be overlooked.

Year of elections will not shift Spain's economic woes

2015 ◽  
Keyword(s):  
Interest Rates ◽  
House Prices ◽  
Bank Lending ◽  
Federal State ◽  
The Political ◽  
Energy Prices ◽  
Tax Reforms ◽  
National Elections ◽  
Content Type ◽  
Low Interest Rates

Subject Economic backdrop to the election cycle. Significance Incumbent administrations will be helped in this year's local, regional and national elections by a number of factors that will contribute to economic growth: lower energy prices, low interest rates, easier bank lending, income tax reforms, a stabilisation in house prices and the stimulus to exports of a weak euro. Nevertheless, widespread disillusion with the political system is likely to result in significant changes in the political landscape, with repercussions for the direction of policy both within Spain and at the European level. Impacts A coalition of the left would push for an easing of austerity measures and more public spending paid for by more progressive taxation. It is also likely to be supportive of a move towards a federal state. Domestic demand should rise, unemployment continue to fall and property prices to stabilise and start to move upwards in some locations. Challenging political and economic conditions will make it difficult to sustain fragile coalitions.

THE ECONOMIC IMPACTS OF GLOBAL WARMING ON CHINESE CITIES

2020 ◽  
Vol 11 (02) ◽  
pp. 2050007
Author(s):  
XIAO-CHEN YUAN ◽  
ZHIMING YANG ◽  
YI-MING WEI ◽  
BING WANG
Keyword(s):  
Global Warming ◽  
Climate Models ◽  
Economic Impacts ◽  
Seasonal Temperature ◽  
Negative Effects ◽  
Positive Effects ◽  
Economic Output ◽  
Development Scenarios ◽  
Per Capita ◽  
The Difference

There is a substantial concern for the economic impacts of global warming. This study identifies the effects of seasonal temperatures on total economic output in the cities of China, and then projects the changes in local economic performance under future climate and development scenarios. The results suggest that there are significant negative effects of warm seasonal temperature but positive effects of cold seasonal temperature on economic growth. These different effects increase as more lags of temperature are included. By 2090, the cities may have the average reduction of 44% in GDP per capita under RCP8.5, but some of them in Northeast China are predicted to get positive impacts under RCP2.6. The difference in the estimated aggregate impacts under the two RCPs could be as much as 24%. The poor cities are likely to have higher economic damages, which amplifies the economic inequality. Finally, the ranges of economic impacts projected by different climate models are presented.

Sign in / Sign up

Export Citation Format

Share Document