• Asymmetric effects of monetary policy in regional housing markets 

      Aastveit, Knut Are; Anundsen, André K. (Working paper;25/2017, Working paper, 2017)
      The responsiveness of house prices to monetary policy shocks depends both on the nature of the shock – expansionary versus contractionary – and on city-specific housing supply elasticities. We test and find supporting ...
    • Bubbles and Crises: The Role of House Prices and Credit 

      Anundsen, André K.; Hansen, Frank; Gerdrup, Karsten R.; Kragh-Sørensen, Kasper (Working Papers;14/2014, Working paper, 2014)
      This paper exploits a quarterly panel data set for 16 OECD countries over the period 1975q1–2013q2 to explore the importance of house prices and credit in affecting the likelihood of a financial crisis. Estimating a set ...
    • Detecting Imbalances in House Prices: What Goes up Must Come Down? 

      Anundsen, André K. (Working Papers;11/2016, Working paper, 2016)
      With the aid of econometric modeling, I investigate whether rapidly increasing house prices necessarily imply the existence of a bubble that will eventually burst. I consider four alternative econometric methods to construct ...
    • Did Us Consumers ”Save for a Rainy Day” Before the Great Recession? 

      Anundsen, André K.; Nymoen, Ragnar (Working Papers;8/2015, Working paper, 2015)
      The 'saving for a rainy day' hypothesis implies that households' saving decisions reflect that they can (rationally) predict future income declines. The empirical relevance of this hypothesis plays a key role in discussions ...
    • Location, location, location! - A quality-adjusted rent index for the Oslo office market 

      Anundsen, André K.; Hagen, Marius (Working Paper;2/2020, Working paper, 2020)
      In this paper, we construct a quality-adjusted rent index for the office market in Oslo. Commonly used rent indices are based on average developments or expert opinions. Such indices often suffer from compositional biases ...
    • Oljepris og lønnsutvikling i K-sektor 

      Anundsen, André K. (Staff Memo;8/2016, Working paper, 2016)
      I denne artikkelen foretas en økonometrisk analyse av lønnsdannelsen i verfts- og verkstedindustrien og i øvrig industri ved hjelp av årlige data for perioden 1980–2014. I tillegg til å ta hensyn til egen lønnsomhetsutvikling, ...
    • Regional Differences in House Prices and Debt 

      Anundsen, André K.; Mæhlum, Sverre (Economic Commentaries;4/2017, Others, 2017)
      House prices and household debt are closely linked. Both house prices and household debt have been rising faster than household income for a longer period. In order to assess household vulnerabilities, debt relative to ...
    • Regional US House Price Formation: One Model Fits All? 

      Anundsen, André K.; Heebøll, Christian (Working Papers;8/2014, Working paper, 2014)
      Does a "one model fits all" approach apply to the econometric modeling of regional house price determination? To answer this question, we utilize a panel of 100 US Metropolitan Statistical Areas over the period 1980q1-2010q2. ...
    • Regionale forskjeller i boligpriser og gjeld 

      Anundsen, André K.; Mæhlum, Sverre (Aktuell Kommentar;4/2017, Others, 2017)
      Utviklingen i boligpriser og gjeld henger tett sammen. Både boligpriser og gjeld har steget raskere enn husholdningenes inntekter over lengre tid. For å vurdere sårbarheten i husholdningene er gjeld i forhold til både ...
    • Residential Investment and Recession Predictability 

      Aastveit, Knut Are; Anundsen, André K.; Herstad, Eyo I. (Working Papers;24/2017, Working paper, 2017)
      We assess the importance of residential investment in predicting economic recessions for an unbalanced panel of 12 OECD countries over the period 1960Q1-2014Q4. Our approach is to estimate various probit models with different ...
    • Supply Restrictions, Subprime Lending and Regional US House Prices 

      Anundsen, André K.; Heebøll, Christian (Working Papers;18/2014, Working paper, 2014)
      With regard to the recent US house price cycle, we analyze how the interaction between housing supply restrictions, mortgage credit constraints and a price-to-price feedback loop affects house price volatility. Considering ...
    • Testing for Micro Efficiency in the Housing Market 

      Anundsen, André K.; Larsen, Erling Røed (Working Papers;6/2016, Working paper, 2016)
      While aggregate house price indices display time persistence, less is known about micro persistence. This article proposes that absence of micro persistence implies that an excessively high or low sell price in one transaction ...