Price volatility of commercial and residential property

被引：15
|
作者：
Kwong, SKS [1 ]
Leung, CKY [1 ]
机构：
[1] Chinese Univ Hong Kong, Dept Econ, Shatin, Hong Kong, Peoples R China
来源：
JOURNAL OF REAL ESTATE FINANCE AND ECONOMICS | 2000年 / 20卷 / 01期
关键词：
D O I：
10.1023/A:1007875704572
中图分类号：
F8 [财政、金融];
学科分类号：
0202 ;
摘要：
This article studies the relative volatility of commercial and residential property prices. Empirical evidence of commercial property prices being more volatile than the prices of residential property is presented. Models are built following that of Lucas. Theoretical statements are derived to show the exact conditions under which the observations arise. The cases of fixed supply and flexible supply are considered separately.
引用
收藏
页码：25 / 36
页数：12
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