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- catalog abstract "We analyze by far the most extensive data base yet employed in estimating capitalization of below-market interest rates into asset prices: nearly 300,000 sales of owner-occupied homes in Sweden from 1981 to 1993 with 40,000 including government subsidized interest rates. Our estimates indicates very clearly that interest subsidies are capitalized into house prices. The below-market financing parameter is consistently significantly negative in all model specifications, irrespective of assumptions about the degree of foresight structure and interest rate measure for all ten regions that we have studied. In our favored model specification the estimated capitalization coefficients center on minus unity capitalization.".
- catalog contributor b10677248.
- catalog contributor b10677249.
- catalog created "c1998.".
- catalog date "1998".
- catalog date "c1998.".
- catalog dateCopyrighted "c1998.".
- catalog description "Includes bibliographical references (p. 20).".
- catalog description "We analyze by far the most extensive data base yet employed in estimating capitalization of below-market interest rates into asset prices: nearly 300,000 sales of owner-occupied homes in Sweden from 1981 to 1993 with 40,000 including government subsidized interest rates. Our estimates indicates very clearly that interest subsidies are capitalized into house prices. The below-market financing parameter is consistently significantly negative in all model specifications, irrespective of assumptions about the degree of foresight structure and interest rate measure for all ten regions that we have studied. In our favored model specification the estimated capitalization coefficients center on minus unity capitalization.".
- catalog extent "24 p. :".
- catalog isPartOf "NBER working paper series ; working paper 6365".
- catalog isPartOf "Working paper series (National Bureau of Economic Research) ; working paper no. 6365.".
- catalog issued "1998".
- catalog issued "c1998.".
- catalog language "eng".
- catalog publisher "Cambridge, MA : National Bureau of Economic Research,".
- catalog title "Another look at the capitalization of interest subsidies : evidence from Sweden / Tommy Berger ... [et al.].".
- catalog type "Computer network resources. local".
- catalog type "text".