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頁籤選單縮合
題 名 | Predicting House Prices with Real-estate-related Stocks=使用房地產相關股票之價格預測房價 |
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作 者 | 林姿妤; | 書刊名 | 經濟論文叢刊 |
卷 期 | 47:2 2019.06[民108.06] |
頁 次 | 頁159-182 |
分類號 | 554.8 |
關鍵詞 | 房地產相關之股票價格; 房價; 樣本內與樣本外預測; Real-estate-related stock prices; House prices; In- and out-of-sample prediction; |
語 文 | 英文(English) |
中文摘要 | 本文探討房地產相關股票之價格是否有助於預測房價。透過樣本內與樣本外預測分析,結果發現,房地產相關股票的價格對於美國房價的預測表現極佳。根據此實證結果,由於股票價格可及時反應市場資訊,且無資料修正問題,因此對於投資人及政策制定者而言,房地產相關股票之價格不失為房價之良好預測指標。 |
英文摘要 | This paper investigates the forecasting content of real-estate-related stock prices for house prices. Using both in- and out-of-sample tests, this paper shows that real-estate-related stock price indices have extremely robust power in predicting US house prices. The empirical results are highly valuable for investors and policy makers because real-estate-related stock prices are shown to be a reliable predictor reflecting timely market information and are readily available to forecast real estate market movements. |
本系統中英文摘要資訊取自各篇刊載內容。