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市場研究首先面對的課題就是價格與供需，習慣上研究者多採取「價格與需求」或「價格與供給」的配對方式來處理，或者在價格與交易量同時決定的市場均衡假設下，直接以「價格」的討論做為市場研究的對象。 本研究認為「價格與供需」在既有的理論基礎之外，更重要的意義是提供一些較為適宜的研究切入點，然後讓研究者依據現實的觀察與理論的推演，來探討市場變數之間各種可能的關係。因此，本研究依據台灣住宅市場的主要特性，並且從價格與數量兩種變數的各項關係，建立分析台灣住宅市場的理論基礎與發展方向。 基本上，價格與供需數量是市場上最重要的資訊，分別表示著供需雙方進入是場所面對的成本與收益水準，以及供需雙方對當前價格的接受程度以及對未來價格的預期，市場上的任何變遷實際上都是市場參與者行為的結果。因此本研究先將住宅供幾者分為建商與一般售屋者，將需求者分為投資需求者與消費需求者，並且探討各類市場參與者的行為特性，以及在不同的市場景氣下，各種供需行為的加總對市場價格與交易量波動的影響，然後據此結果建立住宅市場景氣循環的個體行為基礎。這樣的分析方式，一方面可補充過去直接以總體經濟變數分析市場景氣循環的不足，同時也可以瞭解住宅市場景氣循環的個體面原因。 此外，因為住宅具有異質性，因此可從財貨類型、區位﹍等角度區隔為多種次市場，且在各種次市場的各種住宅價格與供需數量之間存在著不同的理論關係。然而此項課題涉及的研究領域十分廣泛，因此本研究僅探討台灣住宅市場最具特色的預售屋市場與成屋市場的關係。 本研究對此項課題是以住宅存量-流量模型為基礎，一方面納入預售市場於建築期間即可銷售的特性，以及國人以購屋為主的住宅消費習慣，同時探討住宅生產時間落差現象，進而建立解釋成屋市場與預售屋市場價格與數量關係的理論基礎。 另外，住宅次市場的概念引發了本研究對個別次市場之間，以及整體市場與次市場之間相互關係的討論，這是既有研究尚未深入探討的領域。在變數方面，本研究以住宅次市場「價格比例」與「市場規模」取代傳統的價格水準與交易戶數；在理論基礎上，則以封閉市場的假設條件下，探討整體市場與個別次市場的相互關係；關於各次市場之間，則假設彼此具有相互競爭與合作兩種關係，並以開放市場的概念來討論。 此項研究課題對重新建構住宅市場的理論體系具有十分重要的意義。此項理論關係，一方面打破過去將單一住宅次市場視為封閉體系的研究假設，提出各住宅次市場之間的橫向關係，以及次市場與整體市場的縱向關係。更重要的是，可以透過此項理論結構探討住宅市場資源（金）在各個次市場的配置關係與原因，對解釋台灣住宅市場的亂象深具意義。 在前述的理念體系與理論基礎下，本研究進行各項理論上的推演與實證分析，所得結果說明如下： 一、從住宅市場供需雙方行為特性配合市場景氣循環過程的影響得知：在景氣循環過程中，住宅供需雙方的行為結果，將使得市場價格與交易量均衡點的移動軌跡呈現逆時針旋轉的趨勢。另經由單根檢定與共積檢定，發現台北市住宅價格波動會對交易量脫離長期均衡時能夠產生調整的功能；然而，當市場價格脫離長期均衡時，交易量反而是朝發散的方向波動，顯示台北市住宅市場的投資需求以及投機的影響確實十分明顯。 二、從成屋與預售屋市場之價格與供給量的關係，配合國人偏好購屋以及住宅生產期間長的特性，重新界定住宅存量市場與流量市場的理論結構，並修正住宅存量-流量模型。實證結果顯示，台北市成屋市場與預售屋市場的價格與供給量的關係，並不完全符合存量-流量模型。 此外，成屋與預售屋市場的價格波動具有促進市場向長期均衡收斂的功能，且預售屋市場價格的調整速率高於成屋市場，顯示預售屋制度有提昇市場效率的作用。但是預售屋供給量並無法發揮調節成屋市場供需落差的功能，顯示台北市住宅供給量資訊的市場意義仍未明顯發揮，這也是為何近年來市場餘屋大量增加下，市場價格下跌卻十分有限的原因之一。 三、本研究假設整體市場規模是由個別次市場規模加總而來，而非假設整體市場規模固定，再分配到個別次市場之中，並以「價格比例」與「市場規模」的相互影響關係，建立住宅空間次市場相互影響關係的靜態與比較靜態理論基礎。由理論分析得知，住宅空間次市場的價格比例與市場規模是相互連動的，且各住宅次市場同時受到整體市場景氣趨勢的同向波動影響，以及相互競爭的反向波動影響。 實證結果顯示，台北市與台北縣住宅空間次市場的規模之間並不是純然的競爭關係，而是呈現齊漲齊跌的情況。顯示台北市縣住宅市場的競爭程度低於共同反應預期景氣的相互拉抬合作程度。此外，在住宅價格比例長期遞減趨勢下，台北市住宅市場的規模將會逐漸縮減，台北縣住宅市場規模則持續擴大，且兩次市場住宅價格比例也將逐漸持續降低。 / This dissertation combined by three relative essays. In the first paper I analyze the relationship between price and volume of housing market in Taiwan. The analysis suggests a counter-clock cyclical pattern of housing price and volume in the standard price-quantity plane. Empirical results through cointegration tests confirm our analysis that, in the long run, the fluctuation of Taipei's housing transaction volume causes the housing price to fluctuate. In the second paper I discusses the relationship between existing and pre-sales housing market. Basically, existing housing market is similar as spot market, pre-sales housing market is similar to futures or forwards market (Chang & Ward, 1993). Restated, the goods of pre-sales housing market are the housing units under construction. We modify the stock-flow model of Fisher(1992) and DiPasquale & Wheaton(1992, 1994) to analyze the price-volume relationship between existing housing market and pre-sales housing market. By the empirical test of Taiwan's housing market, the consequences imply that pre-sales market price adjustment rate to the long-run equilibrium price is rapid than the price adjustment rate in existing housing market. In other words, the pre-sales system can improve the market efficiency. The result of supply adjustment rate is insignificant, which implying that housing market is basically influenced by price not by volume in Taiwan. The final paper established the price, volume and mutual interrelation basis through the housing price ratio and market size to provide housing market framework researchers a new point. Then I conducted an empirical analysis of the Taipei City and Taipei County housing markets. Finding that the competition between the two sub-markets is low. Furthermore, there is a signification correlation between market size and price ratio fluctuation, and the price ratio is a better of market economical cycle indicator than price fluctuation.

I juni 2016 införde Finansinspektionen, i samtycke med regeringen, ett amorteringskrav för nya bolån med avsikten att minska de svenska hushållens skuldsättning. Syftet med uppsatsen är att analysera den effekt amorteringskravet har haft på bostadspriser inom den svenska marknaden för bostadsrätter. Detta har genomförts med en ekonometrisk modell, samt med stöd av nationalekonomisk teori och tidigare forskning. Studien har fokuserat på förändringen i bostadspriser för bostadsrätter i Sveriges tre största kommuner, Stockholm, Göteborg och Malmö. Resultatet visar på en statistiskt och ekonomiskt signifikant negativ effekt av amorteringskravet i Stockholms kommun medan resultatet för de två övriga kommunerna inte går att statistiskt säkerställa. Vidare visar uppsatsen att de faktorer som bestämmer bostadspriser går i en riktning som påverkar priserna positivt och begränsar amorteringskravets effekt på bostadspriser. / On June 1, 2016, the Swedish Financial Supervisory (Finansinspektionen), in agreement with the Swedish government, imposed an amortization requirement for new housing loans with the intention of reducing the households’ indebtedness. The purpose of this paper is to analyze the effect of the amortization requirement on housing prices in the Swedish housing market. This has been executed using an econometric model and with the support of economic theory and previous research. The study has focused on the change in housing prices in condominiums in Sweden’s three largest municipalities, Stockholm, Göteborg and Malmö. The result shows a statistically and economically significant negative effect of the amortization requirement in the municipality of Stockholm, while results for the other two municipalities fail to show statistical significance. Furthermore, this paper shows that factors determining housing prices have developed in a way that positively affects housing prices and limits the effect that the amortization requirement have on housing prices.

This thesis discusses the real price development on the Swedish housing market and the effects by qualitative variables. The housing market shows signs of being overpriced and this paper investigates if these qualitative values significantly effect the real price development. Valueguard Corporation has supplied Price development data. Focus magazine has supplied data regarding a large dataset for Swedish municipalizes which measures which state of quality of living prevailing in the investigated area. Empirical results show that qualitative variables and increased population have a positive effect on the real price development. Increased cost of interest rates has a significant negative effect on the price development. Increased amortizing rates and interest rates are assumed to slow down an unsustainable price development.

In this paper, I estimate the economic cost associated with flood risks in Sweden. A hedonic price model combined with a distance defined difference-in-differences method is used to estimate the marginal change in property prices due to new information regarding flood risks. The results reveal a robust effect on owner-occupied properties from predicted floods from the sea. The willingness to pay for increasing the distance to the predicted flooded area is estimated to be 0.187% per meter. A similar, though smaller (0.045% per meter) effect is found for all properties in proximity to floods from streams. The effects of the information regarding flood risks are limited to the year after the release. The results are especially important in a Swedish setting due to its numerous streams and lakes and extensive coastline. That the value of the risk of floods is limited to one year should be further investigated and considered when establishing policies regarding the information provided when a property is listed for sale.

This is a study about residential segregation in Malmö. The aim is to highlight the segregation that is taking place in the city as a whole. I therefore focus on two residential areas in Malmö which are not often mentioned when speaking about segregation; Västra Innerstaden and Limhamn-Bunkeflo. I present different theories on housing segregation and discuss them in relation to these specific residential areas. I investigate how the socio-economic and ethnic characteristics of the inhabitants in these residential areas are connected to Malmö being a segregated city. The study focuses on households as individual actors and reasons for their migration patterns within the city. It then briefly covers possible neighbourhood effects in the studied areas. Finally, the question is posed why these areas are not subjected to segregation inhibitory interventions.

In this paper we propose a time-varying parameter VAR model for the housing market in the United States, the United Kingdom, Japan and the Euro Area. For these four economies, we answer the following research questions: (i) How can we evaluate the stance of monetary policy when the policy rate hits the zero lower bound? (ii) Can developments in the housing market still be explained by policy measures adopted by central banks? (iii) Did central banks succeed in mitigating the detrimental impact of the financial crisis on selected housing variables? We analyze the relationship between unconventional monetary policy and the housing markets by using the shadow interest rate estimated by Krippner (2013b). Our findings suggest that the monetary policy transmission mechanism to the housing market has not changed with the implementation of quantitative easing or forward guidance, and central banks can affect the composition of an investors portfolio through investment in housing. A counterfactual exercise provides some evidence that unconventional monetary policy has been particularly successful in dampening the consequences of the financial crisis on housing markets in the United States, while the effects are more muted in the other countries considered in this study. (authors' abstract) / Series: Department of Economics Working Paper Series

Förekomsten av diskriminering av romer har påvisats i tidigare studier och rapporter från Diskrimineringsombudsmannen. Syftet med denna studie är att beskriva och förstå romers upplevelse av diskriminering. Frågeställningarna som lyfts är om romer upplever sig vara diskriminerade och på vilket sätt, hur man möter de fördomar man som grupp utsätts för och vad anser de kan identifieras som orsaken till diskrimineringen. Den empiriska delen av studien har genomförts utifrån kvalitativ metod, genom att intervjuer med romska respondenter. De teoretiska utgångspunkterna är baserade på perspektiv gällande diskriminering, stigma och utanförskap med syfte att beskriva de samhälleliga strukturer som påverkar fördomar och diskriminering. Studien visar på att romerna i undersökningen upplever sig vara diskriminerade inom flera livsområden, och de beskriver detta som en del i deras vardag. Orsakerna bottnar i, som de ser, att de fördomar samhället haft i historien lever kvar. De påvisar också att detta orsakat en känsla av att man som individ tillhörande den romska gruppen har ett lägre värde i jämförelse med majoritetssamhället. För att bryta dessa fördomar ser respondenterna att det behövs arbete från två håll, både från majoritetssamhället och romerna där begrepp som trygghet och information är väsentliga. / The existence of discrimination against the Roma has been demonstrated in previous studies and inreports from Diskrimineringsombudsmannen. The purpose of this study is to describe and understand Romaexperience of discrimination. The issues raised are if Roma perceive them to be discriminated and in what way, how they face the prejudices they as a group are exposed to and what they consider to be identified as the cause of discrimination. The empirical part of the study has been carried out using qualitative methodology, through interviews with Roma respondents. The theoretical approach is based on perspective regarding discrimination, stigma and exclusion in order to describe the social structures thatinfluence prejudice and discrimination. The study shows that the Roma in the survey feel they are discriminated in many areas of life, and they describe it as part of their everyday life. The reasons stem from, as they see, that historical prejudice in society remains. They demonstrate also that this causes a feeling that they as individuals belonging to the Roma community have a lower value in comparison with the majority society. To break these prejudices respondents see the need to work on two fronts, both from the majority society and the Roma, where concepts such as feeling of security and information are essential.

Consumer sentiment has the ability to provide researchers with many avenues to test existing Finance and Economic theories. Chapter 1 introduces the issues that I seek to explore within the area of Behavioral Finance. Chapter 2 utilizes thirty years of consumer sentiment data to explore extant economic theories and hypotheses. In particular, I study the Prospect Theory and the Life Cycle Investment Hypothesis. In addition, I also study how changes in consumer sentiment can foretell future stock returns for firms in different industries and of different sizes. By studying how individuals of different ages display optimism and pessimism through consumer sentiment surveys, I am able to contribute to the literature by shedding additional light on just how the important age is with respect to a person's economic outlook. One particular phenomenon that I discuss in this chapter is downside risk. I will provide further support to the existing literature which shows that gains and losses are not viewed equally by individuals. To account for this discrepancy, this paper models the time series relationship between consumer sentiment and stock returns using asymmetric response models. Chapter 3 builds upon the previous chapter's findings by using consumer sentiment to explore if this index can forecast housing market variables such as changes in home sales and home prices. Given the recent financial market turmoil that stemmed from the U.S. housing market debacle, this chapter is timely. Using widely cited housing indices, I explore regional differences in the U.S. housing market and how the sentiment of local consumers can possibly affect their housing markets. I also include analyses in which the age of the consumer is accounted for to see if evidence of the Life Cycle Investment Hypothesis emerges. This theory postulates that younger individuals are more likely to demand housing as a financial asset and if this were true, I hypothesize that changes in younger individuals' sentiment would have more forecasting power with respect to future housing sales and price changes. Lastly, I conclude this dissertation with Chapter 4 which includes additional discussions of the issues studied.

Abstract The aim of this study is to examine segregation in the three Swedish municipalities of Uppsala, Gävle and Värmdö. The study attempts to describe the current situation in regards to segregation in the chosen municipalities, the reasons for this and what the municipalities can do to prevent further segregation. In an attempt to find answer to these questions, a literature study has been done and three semi structured interviews with planners working for the municipalities in question. The study shows that different socio economic groups are indeed spatially clustered and a big reason for this is historic decisions in regard to large scale planning and Sweden’s historic housing policies. The interviews show that there are many possible tools for a planner to use when trying to decrease segregation. A large focus is put on creating mixed types of housing in each part of the city and municipality. Creating places for social interaction and good communications are also an important part according to all interviewees. The challenges faced by the planners are lack of economic incentive, the limitations of the planning system and preferences of the population.