Electronic Resource
Oxford, UK
:
Blackwell Publishing Ltd
Papers in regional science
59 (1986), S. 0
ISSN:
1435-5957
Source:
Blackwell Publishing Journal Backfiles 1879-2005
Topics:
Geography
,
Economics
Notes:
Expectations of the future are of great importance for many economic theories. While expected values of economic variables are typically unobservable, expectations of house-price changes can be inferred from data on the space-rental value of dwellings and its other determinants. This paper first discusses the behavior of expected changes in house prices so estimated. The formation of these expectations is then examined. The hypothesis of adaptive expectations is found to explain the data quite well. The rational expectations hypothesis, however, does very poorly.
Type of Medium:
Electronic Resource
URL:
http://dx.doi.org/10.1111/j.1435-5597.1986.tb00981.x
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