PL EN


2013 | 47 | 3 |
Article title

Czynniki kreacji bańki cenowej na rynku nieruchomości

Content
Title variants
Languages of publication
PL
Abstracts
PL
Artykuł nie zawiera abstraktu w języku polskim
EN
The paper is to present the essence of price bubbles, which are extremely important phenomena in the analysis of financial crises. They are often ground such crises.. The analysis of price bubbles being first of all requires a  critical review and evaluation of the impact of various factors on this phenomenon. The authors put forward a  thesis of the important role of behavioral factors in the creation of price bubbles.In practice, there are also cases of infection price bubbles through international channels. The authors presented two case studies of countries (Polish and United Arab Emirates), where it was indeed the subprime crisis, but it occurred, and the price bubble burst in the property market.The main purpose of the article is an overview of the factors that create price bubbles and the effect of contamination and to analyze the specific role of behavioral factors in the real estate market.
Year
Volume
47
Issue
3
Physical description
Dates
published
2013
online
2015-07-23
Contributors
References
  • Akerlof G.A., Shiller R.J., Animal Spirits, Princeton University, 2009.
  • Allen F., Gale D., Understanding Financial Crises, Oxford University, New York 2007.
  • Cummins Ch., Dubai Crisis Shakes Markets, “The Wall Street Journal” 2009, November 27.
  • Fox J., Myth of the Rational Market, Harper Business, New York 2009.
  • Główka G., System finansowania nieruchomości mieszkaniowych w  Polsce. Doświadczenia i  kierunki zmian, Szkoła Główna Handlowa, Warszawa 2012.
  • Hirshleifer D.K., Subramanyam A., Investor Psychology and Security Market Under- and Overreactions, “Journal of Finance” 1998, no. 53.
  • Hott C., Lending Behavior and Real Estate Prices, “Journal of Banking and Finance” 2011, vol. 36, no. 9.
  • Khamis M., Senhadji A., Impact of the Global Financial Crisis on the Gulf Cooperation Council Countries and Challenges Ahead, International Monetary Fund, Washington 2010.
  • Kindleberger Ch., Szaleństwo, panika, krach. Historia kryzysów finansowych, WIG, Warszawa 1999.
  • Krugman P., Powrót recesji. Kryzys roku 2008, Wolters Kluwer, Warszawa 2012.
  • Levine S.S., Zajac E.J., The Institutional Nature of Price Bubbles, Working Paper, Columbia University and Northwestern University, Kellogg School of Business, 2008.
  • Masiukiewicz P., Efekt kompensacji, „Bank” 2002, nr 2.
  • Masiukiewicz P., Ryzyko dużych banków. Perspektywa Polski, CeDeWu, Warszawa 2012.
  • Raport o  sytuacji na rynku nieruchomości mieszkaniowych w  Polsce w  latach 2002–2009, NBP, Warszawa 2010.
  • Roubini N., Mihm S., Crisis Economics: A  Crash Course in the Future of Finance, Penguin Press, 2010.
  • Stiglitz J., Freefall – jazda bez trzymanki, PTE, Warszawa 2010.
  • Thomson A., Dubai Holding Hires Advisers, “The Wall Street Journal” 2010, May 11.
  • Wadhwani S., Should Monetary Policy Respond to Asset Price Bubbles? Revisiting the Debate, “National Institute Economic Review” 2008, no. 206.
  • White L.H., Federal Reserve Policy and the Housing Bubble, “The Cato Journal” 2009, vol. 29, no. 1
Document Type
Publication order reference
Identifiers
YADDA identifier
bwmeta1.element.ojs-doi-10_17951_h_2013_47_3_401
JavaScript is turned off in your web browser. Turn it on to take full advantage of this site, then refresh the page.