European public real estate market integration Academic Article

abstract

• This study examines dynamic linkages among nine European public real estate markets, with particular attention to the impact of the recent establishment of the European Economic and Monetary Union (EMU). Forecast error variance decomposition results show that the real estate markets of larger EMU economies (Germany, France, Netherlands) became more integrated with other European markets after the establishment of the EMU in 1999. By contrast, increased real estate market integration is not found for some smaller EMU economies (Belgium and Spain). Also, the real estate markets of non-EMU economies (United Kingdom, Switzerland, and Denmark) exhibited either little change or less integration. The EMU has been beneficial in terms of increasing real estate market integration among EMU member countries with more advanced industrial structures. 2005 Taylor & Francis.

authors

• Kolari, James

published proceedings

• Applied Financial Economics

author list (cited authors)

• Yang, J., Kolari *, J. W., & Zhu, G.

citation count

• 25

complete list of authors

• Yang, Jian||Kolari *, James W||Zhu, Guozhong

publication date

• September 2005

publisher

• Taylor & Francis  Publisher

published in

• Applied Financial Economics  Journal

Digital Object Identifier (DOI)

• 10.1080/09603100500187877

start page

• 895

end page

• 905

volume

• 15

issue

• 13

URL

• http://dx.doi.org/10.1080/09603100500187877