Martin Hoesli

University of Geneva - Geneva School of Economics and Management (GSEM)

Professor of Real Estate Finance

40 Boulevard du Pont d'Arve

Geneva 4, Geneva 1211

Switzerland

Swiss Finance Institute

c/o University of Geneva

40, Bd du Pont-d'Arve

CH-1211 Geneva 4

Switzerland

University of Aberdeen - Business School

Professor of Finance

Edward Wright Building

Dunbar Street

Aberdeen, Scotland AB24 3QY

United Kingdom

  • University of Geneva - Geneva School of Economics and Management (GSEM)

    • Email
    • Tel: +41 22 379 8122
    • Fax: +41 22 379 8104

  • University of Aberdeen - Business School

    • Email
    • Tel: +41 22 379 8122
    • Fax: +41 22 379 8104
SCHOLARLY PAPERS

81

DOWNLOADS
Rank 1,598

SSRN RANKINGS

Top 1,598

in Total Papers Downloads

30,754

SSRN CITATIONS
Rank 4,581

SSRN RANKINGS

Top 4,581

in Total Papers Citations

213

CROSSREF CITATIONS

145

Scholarly Papers (81)

Actions:
Email selected abstracts
1.

Monte Carlo Simulations for Real Estate Valuation

FAME Research Paper No. 148
Number of pages: 32 Posted: 08 Aug 2005
Martin Hoesli, Elion Jani and Andre Bender
University of Geneva - Geneva School of Economics and Management (GSEM), University of Geneva - Geneva Finance Research Institute (GFRI) and University of Geneva - Hautes Études Commerciales (HEC-Genève)
Downloads 2,293 (10,916)
Citation 3

Abstract:

Loading...

Real estate valuation; Monte Carlo simulations; Adjusted Present Value (APV)

2.

International Evidence on Real Estate as a Portfolio Diversifier

Downloads 1,779 (16,331)
Citation 24

International Evidence on Real Estate as a Portfolio Diversifier

FAME Research Paper No. 70
Number of pages: 47 Posted: 24 Jun 2003
Martin Hoesli, Jon Lekander and Witold Witkiewicz
University of Geneva - Geneva School of Economics and Management (GSEM), Royal Institute of Technology (KTH) and Aberdeen Property Investors Nordic Region
Downloads 1,040 (35,719)
Citation 38

Abstract:

Loading...

mixed-asset diversification, real estate, portfolio allocations

International Evidence on Real Estate as a Portfolio Diversifier

Journal of Real Estate Research, Vol. 26, No. 2, 2004
Number of pages: 46 Posted: 03 Jan 2007
Martin Hoesli, Jon Lekander and Witold Witkiewicz
University of Geneva - Geneva School of Economics and Management (GSEM), Royal Institute of Technology (KTH) and Aberdeen Property Investors Nordic Region
Downloads 739 (57,237)

Abstract:

Loading...

mixed-asset portfolio, real estate, diversification, international, domestic

3.

The Capital Structure of Swiss Companies: An Empirical Analysis Using Dynamic Panel Data

FAME Research Paper No. 68
Number of pages: 40 Posted: 27 May 2003
Philippe Gaud, Elion Jani, Martin Hoesli and Andre Bender
Rentes Genevoises, University of Geneva - Geneva Finance Research Institute (GFRI), University of Geneva - Geneva School of Economics and Management (GSEM) and University of Geneva - Hautes Études Commerciales (HEC-Genève)
Downloads 1,755 (16,667)
Citation 25

Abstract:

Loading...

Capital structure, dynamic panel data, trade-off theory, pecking order theory

4.

The Interest Rate Sensitivity of Real Estate

Journal of Property Research, Vol. 27, No. 1, pp. 61-85, 2010, Swiss Finance Institute Research Paper No. 10-13
Number of pages: 45 Posted: 23 Mar 2010 Last Revised: 07 Dec 2018
Alain Chaney and Martin Hoesli
Universitiy of Geneva and University of Geneva - Geneva School of Economics and Management (GSEM)
Downloads 1,358 (24,654)

Abstract:

Loading...

Interest Rate Sensitivity, Duration, Property, DCF, Risk Management

5.

Corporate Cash Holdings and Agency Conflicts

Number of pages: 30 Posted: 13 Jul 2004
Elion Jani, Martin Hoesli and Andre Bender
University of Geneva - Geneva Finance Research Institute (GFRI), University of Geneva - Geneva School of Economics and Management (GSEM) and University of Geneva - Hautes Études Commerciales (HEC-Genève)
Downloads 1,230 (28,509)
Citation 6

Abstract:

Loading...

Cash holdings, ownership structure, agency conflicts, dual class shares, error correction model

6.

Why Do the Swiss Rent?

Downloads 1,125 (32,500)
Citation 7

Why Do the Swiss Rent?

Swiss Finance Institute Research Paper No. 07-04
Number of pages: 48 Posted: 22 Feb 2007
Steven C. Bourassa and Martin Hoesli
Florida Atlantic University and University of Geneva - Geneva School of Economics and Management (GSEM)
Downloads 1,125 (32,018)
Citation 7

Abstract:

Loading...

Home ownership, Switzerland

Why Do the Swiss Rent?

Journal of Real Estate Finance and Economics, Forthcoming
Posted: 12 Nov 2009 Last Revised: 07 Apr 2010
Steven C. Bourassa and Martin Hoesli
Florida Atlantic University and University of Geneva - Geneva School of Economics and Management (GSEM)

Abstract:

Loading...

Home Ownership, house Prices, Tax Policy, Switzerland

7.

Are REITs Real Estate? Evidence from International Sector Level Data

Swiss Finance Institute Research Paper No. 12-15
Number of pages: 50 Posted: 05 Apr 2012
Martin Hoesli and Elias Oikarinen
University of Geneva - Geneva School of Economics and Management (GSEM) and University of Oulu - Oulu Business School
Downloads 1,093 (33,762)
Citation 19

Abstract:

Loading...

Public and Private Real Estate, REITs, Property Type, Dynamics, Leverage, Fundamentals, VECM

8.

The Inflation Hedging Characteristics of U.S. And U.K. Investments: A Multi-Factor Error Correction Approach

Journal of Real Estate Finance and Economics, Vol. 38, No. 2, 2008, Swiss Finance Institute Research Paper No. 06-4
Number of pages: 57 Posted: 21 Jun 2006
Martin Hoesli, Colin Lizieri and Bryan MacGregor
University of Geneva - Geneva School of Economics and Management (GSEM), University of Cambridge - Department of Land Economy and University of Aberdeen - Centre for Property Research
Downloads 1,000 (38,337)
Citation 7

Abstract:

Loading...

Investment Returns, Real Estate, Inflation Hedging, Error Correction Model

9.

What Factors Determine International Real Estate Security Returns?

FAME Research Paper No. 50
Number of pages: 46 Posted: 06 May 2003
Foort Hamelink and Martin Hoesli
Lombard Odier Asset Management (SA) and University of Geneva - Geneva School of Economics and Management (GSEM)
Downloads 920 (43,107)
Citation 8

Abstract:

Loading...

securitized real estate, international diversification, multi-factor model, value/growth

10.

The Maximum Drawdown as a Risk Measure: The Role of Real Estate in the Optimal Portfolio Revisited

FAME Research Paper No. 87
Number of pages: 41 Posted: 22 Jul 2003
Foort Hamelink and Martin Hoesli
Lombard Odier Asset Management (SA) and University of Geneva - Geneva School of Economics and Management (GSEM)
Downloads 811 (51,280)
Citation 4

Abstract:

Loading...

11.

Housing Finance, Prices, and Tenure in Switzerland

Swiss Finance Institute Research Paper No. 09-16
Number of pages: 40 Posted: 21 May 2009 Last Revised: 17 May 2015
Steven C. Bourassa, Martin Hoesli and Donato Flavio Scognamiglio
Florida Atlantic University, University of Geneva - Geneva School of Economics and Management (GSEM) and University of Berne, Institut für Finanzmanagement
Downloads 700 (62,386)
Citation 10

Abstract:

Loading...

Housing policy, housing finance, house prices, rents, taxation, homeownership, Switzerland

12.

Debt Equity Choice in Europe

Number of pages: 41 Posted: 09 Aug 2005
Philippe Gaud, Martin Hoesli and Andre Bender
Rentes Genevoises, University of Geneva - Geneva School of Economics and Management (GSEM) and University of Geneva - Hautes Études Commerciales (HEC-Genève)
Downloads 606 (74,923)
Citation 12

Abstract:

Loading...

dynamic capital structure, debt-equity choice, trade-off, agency, pecking order

13.

Mortgage Interest Deductions and Homeownership: An International Survey

Swiss Finance Institute Research Paper No. 12-06
Number of pages: 38 Posted: 12 Feb 2012 Last Revised: 24 Aug 2015
Steven C. Bourassa, Donald R. Haurin, Patric H. Hendershott and Martin Hoesli
Florida Atlantic University, Ohio State University (OSU) - Economics, University of Aberdeen - Aberdeen Business School and University of Geneva - Geneva School of Economics and Management (GSEM)
Downloads 597 (76,348)
Citation 4

Abstract:

Loading...

homeownership, tax policy, house prices

14.

The Valuation of Illiquid Assets: A Focus on Private Equity and Real Estate

Swiss Finance Institute Research Paper No. 22-12, Forthcoming, Journal of Alternative Investments
Number of pages: 29 Posted: 03 Feb 2022 Last Revised: 06 Feb 2022
Rajna Gibson, Martin Hoesli and Jiajun Shan
University of Geneva - Geneva Finance Research Institute (GFRI), University of Geneva - Geneva School of Economics and Management (GSEM) and University of Geneva
Downloads 587 (78,002)

Abstract:

Loading...

Valuation; Illiquid Assets; Private Equity; Real Estate; Real Options

15.

The Determinants of Stock Returns in a Small Open Economy

Number of pages: 31 Posted: 06 May 2003
Severine Cauchie, Martin Hoesli and Dušan Isakov
University of Geneva - Geneva Finance Research Institute (GFRI), University of Geneva - Geneva School of Economics and Management (GSEM) and University of Fribourg (Switzerland) - Faculty of Management, Economics and Social Sciences
Downloads 561 (82,519)

Abstract:

Loading...

Statistical APT; Macroeconomic APT; Market integration; Risk factors

16.

Measuring House Price Bubbles

Swiss Finance Institute Research Paper No. 16-01
Number of pages: 37 Posted: 16 Jan 2016
Steven C. Bourassa, Martin Hoesli and Elias Oikarinen
Florida Atlantic University, University of Geneva - Geneva School of Economics and Management (GSEM) and University of Oulu - Oulu Business School
Downloads 553 (84,054)
Citation 2

Abstract:

Loading...

Housing; Bubble; Overvaluation; Asset Pricing; Price-Rent Ratio; Policy Measures

17.

Transaction-Based and Appraisal-Based Capitalization Rate Determinants

Swiss Finance Institute Research Paper No. 12-28
Number of pages: 39 Posted: 30 Aug 2012
Alain Chaney and Martin Hoesli
Universitiy of Geneva and University of Geneva - Geneva School of Economics and Management (GSEM)
Downloads 505 (94,239)
Citation 6

Abstract:

Loading...

Appraisal-Based Capitalization Rates, Transaction-Based Capitalization Rates, Real Estate Risk, Appraisal Smoothing, Valuation

18.

Global Securitized Real Estate Benchmarks and Performance

Journal of Real Estate Portfolio Management, Vol. 15, No. 1, 2009, Swiss Finance Institute Research Paper No. 08-39
Number of pages: 37 Posted: 21 Nov 2008 Last Revised: 25 Sep 2009
Camilo Serrano and Martin Hoesli
IAZI AG - CIFI SA and University of Geneva - Geneva School of Economics and Management (GSEM)
Downloads 470 (102,456)

Abstract:

Loading...

Global Securitized Real Estate, REITs, Benchmark, Index Characteristics

19.

Securitized Real Estate and its Link With Financial Assets and Real Estate: An International Analysis

Journal of Real Estate Literature, Vol. 15, No. 1, 2007
Number of pages: 27 Posted: 18 Oct 2007 Last Revised: 29 Nov 2009
Martin Hoesli and Camilo Serrano
University of Geneva - Geneva School of Economics and Management (GSEM) and IAZI AG - CIFI SA
Downloads 437 (111,649)
Citation 1

Abstract:

Loading...

Multifactor Models, Betas, Pure Factors, Securitized Real Estate

20.

Linkages between Direct and Securitized Real Estate

Swiss Finance Institute Research Paper No. 09-26, 22nd Australasian Finance and Banking Conference 2009
Number of pages: 38 Posted: 07 Jul 2009 Last Revised: 30 May 2017
Elias Oikarinen, Martin Hoesli and Camilo Serrano
University of Oulu - Oulu Business School, University of Geneva - Geneva School of Economics and Management (GSEM) and IAZI AG - CIFI SA
Downloads 415 (118,608)
Citation 6

Abstract:

Loading...

cointegration, Vector Error-Correction Models, direct real estate, securitized real estate, REITs, diversification

21.

Suggested vs. Actual Institutional Allocation to Real Estate in Europe: A Matter of Size

FAME Research Paper No. 149
Number of pages: 26 Posted: 08 Aug 2005
Martin Hoesli and Jon Lekander
University of Geneva - Geneva School of Economics and Management (GSEM) and Royal Institute of Technology (KTH)
Downloads 412 (119,585)
Citation 1

Abstract:

Loading...

real estate allocation, market transparency, private real estate, flows

22.

Are Securitized Real Estate Returns More Predictable than Stock Returns?

Downloads 409 (120,570)

Are Securitized Real Estate Returns More Predictable than Stock Returns?

Journal of Real Estate Finance and Economics, Forthcoming, Swiss Finance Institute Research Paper No. 08-27
Number of pages: 41 Posted: 20 Oct 2008 Last Revised: 25 Sep 2009
Camilo Serrano and Martin Hoesli
IAZI AG - CIFI SA and University of Geneva - Geneva School of Economics and Management (GSEM)
Downloads 409 (119,420)
Citation 2

Abstract:

Loading...

Predictability, Time Series Models, ARMA-EGARCH, REITs, Securitized Real Estate

Are Securitized Real Estate Returns More Predictable than Stock Returns?

Journal of Real Estate Finance and Economics, Vol. 41, No. 2, 2010
Posted: 06 Apr 2010
Camilo Serrano and Martin Hoesli
IAZI AG - CIFI SA and University of Geneva - Geneva School of Economics and Management (GSEM)

Abstract:

Loading...

Predictability, Time Series Models, ARMA-EGARCH, REITs, Securitized real estate

23.

Land Leverage and House Prices

Downloads 407 (121,277)
Citation 4

Land Leverage and House Prices

Swiss Finance Institute Research Paper No. 10-48
Number of pages: 45 Posted: 03 Dec 2010
Steven C. Bourassa, Martin Hoesli, Donato Flavio Scognamiglio and Sumei Zhang
Florida Atlantic University, University of Geneva - Geneva School of Economics and Management (GSEM), University of Berne, Institut für Finanzmanagement and University of Louisville - School of Urban & Public Affairs
Downloads 311 (161,859)
Citation 4

Abstract:

Loading...

Land Leverage, House Price Dynamics, Land Prices, Error Correction Models

Land Leverage and House Prices

46th Annual AREUEA Conference Paper
Number of pages: 42 Posted: 01 Dec 2010
Martin Hoesli, Steven C. Bourassa, Donato Scognamiglio and Sumei Zhang
University of Geneva - Geneva School of Economics and Management (GSEM), Florida Atlantic University, IAZI AG - CIFI SA and University of Louisville - School of Urban & Public Affairs
Downloads 96 (451,469)
Citation 2

Abstract:

Loading...

24.

The Price of Aesthetic Externalities

FAME Working Paper No. 98
Number of pages: 31 Posted: 20 Dec 2003
Steven C. Bourassa, Martin Hoesli and Jian Sun
Florida Atlantic University, University of Geneva - Geneva School of Economics and Management (GSEM) and University of Louisville - School of Urban & Public Affairs
Downloads 396 (125,189)
Citation 5

Abstract:

Loading...

Hedonic models, aesthetic externalities, views, real estate valuation, New Zealand

25.

House Price Changes and Idiosyncratic Risk: The Impact of Property Characteristics

FAME Research Paper No. 160
Number of pages: 37 Posted: 03 Jan 2006
Steven C. Bourassa, Donald R. Haurin, Jessica L. Haurin, Martin Hoesli and Jian Sun
Florida Atlantic University, Ohio State University (OSU) - Economics, Stanford University, University of Geneva - Geneva School of Economics and Management (GSEM) and University of Louisville - School of Urban & Public Affairs
Downloads 387 (128,472)
Citation 5

Abstract:

Loading...

Atypicality, Bargaining,Housing Risk, House Price Appreciation, Search Models

26.

House Prices and Bubbles in New Zealand

Downloads 375 (133,164)
Citation 2

House Prices and Bubbles in New Zealand

Swiss Finance Institute Research Paper No. 06-20
Number of pages: 41 Posted: 26 Oct 2006
Martin Hoesli, Patricia Fraser and Lynn McAlevey
University of Geneva - Geneva School of Economics and Management (GSEM), Curtin University of Technology - Curtin Business School - Bentley Campus and University of Otago - Department of Accountancy and Finance
Downloads 375 (132,097)
Citation 2

Abstract:

Loading...

Real house prices, real disposable income, fundamentals, present value

House Prices and Bubbles in New Zealand

Journal of Real Estate Finance and Economics, Vol. 37, No. 1, 2008
Posted: 04 Nov 2007
Patricia Fraser, Martin Hoesli and Lynn McAlevey
Curtin University of Technology - Curtin Business School - Bentley Campus, University of Geneva - Geneva School of Economics and Management (GSEM) and University of Otago - Department of Accountancy and Finance

Abstract:

Loading...

real house prices, real disposable income, fundamentals, present value, time-varying risk, bubbles

27.

Predicting House Prices with Spatial Dependence: Impacts of Alternative Submarket Definitions

Swiss Finance Institute Research Paper No. 08-01
Number of pages: 30 Posted: 04 Feb 2008
Steven C. Bourassa, Eva Cantoni and Martin Hoesli
Florida Atlantic University, University of Geneva and University of Geneva - Geneva School of Economics and Management (GSEM)
Downloads 373 (133,953)
Citation 12

Abstract:

Loading...

spatial dependence, hedonic price models, geostatistical models, mass appraisal, housing submarkets

28.

What's in a View?

FAME Research Paper No. 79
Number of pages: 47 Posted: 21 Jul 2003
Steven C. Bourassa, Martin Hoesli and Jian Sun
Florida Atlantic University, University of Geneva - Geneva School of Economics and Management (GSEM) and University of Louisville - School of Urban & Public Affairs
Downloads 373 (133,953)
Citation 7

Abstract:

Loading...

Views, Property Values, Hedonic Models, Externalities

29.

Are Public and Private Asset Returns and Risks the Same? Evidence from Real Estate Data

Swiss Finance Institute Research Paper No. 13-56
Number of pages: 43 Posted: 02 Nov 2013 Last Revised: 30 Jan 2015
Martin Hoesli and Elias Oikarinen
University of Geneva - Geneva School of Economics and Management (GSEM) and University of Oulu - Oulu Business School
Downloads 364 (137,640)
Citation 2

Abstract:

Loading...

REIT; Real estate; Return; Risk; Hedging; Portfolio allocation

30.

House Prices, Disposable Income and Permanent and Temporary Shocks: The N.Z., U.K. and U.S. Experience

Swiss Finance Institute Research Paper No. 09-42
Number of pages: 46 Posted: 24 Oct 2009 Last Revised: 22 Dec 2010
Patricia Fraser, Martin Hoesli and Lynn McAlevey
Curtin University of Technology - Curtin Business School - Bentley Campus, University of Geneva - Geneva School of Economics and Management (GSEM) and University of Otago - Department of Accountancy and Finance
Downloads 352 (142,773)

Abstract:

Loading...

House prices, disposable income, elasticity, permanent shocks, temporary shocks, SVAR approach.

31.

Real Estate Performance, the Macroeconomy and Leverage

Swiss Finance Institute Research Paper No. 19-33, June 2019
Number of pages: 57 Posted: 20 Jun 2019
Jean-Christophe Delfim and Martin Hoesli
University of Geneva - Geneva School of Economics and Management and University of Geneva - Geneva School of Economics and Management (GSEM)
Downloads 343 (146,859)

Abstract:

Loading...

Direct real estate; Non-listed real estate; Listed real estate; Macroeconomy; Leverage

32.

A Simple Alternative House Price Index Method

FAME Working Paper No. 119
Number of pages: 33 Posted: 12 Dec 2004
Steven C. Bourassa, Martin Hoesli and Jian Sun
Florida Atlantic University, University of Geneva - Geneva School of Economics and Management (GSEM) and University of Louisville - School of Urban & Public Affairs
Downloads 334 (151,052)
Citation 19

Abstract:

Loading...

House price indexes

33.

Determinants of Cross-Sectional Variation in Discount Rates, Growth Rates, and Exit Cap Rates

Number of pages: 28 Posted: 08 Mar 2004
Ake Gunnelin, Patric H. Hendershott, Martin Hoesli and Bo Soederberg
Royal Institute of Technology (KTH) - Department of Real Estate and Construction Management, University of Aberdeen - Centre for Property Research, University of Geneva - Geneva School of Economics and Management (GSEM) and University of Gävle - Department of Business Administration
Downloads 334 (151,052)
Citation 2

Abstract:

Loading...

Real Estate Appraisal, DCF, Discount Rates, Capitalization Rates

34.

Forecasting EREIT Returns

Journal of Real Estate Portfolio Management, Vol. 13, No. 4, 2007, Swiss Finance Institute Research Paper No. 07-35
Number of pages: 37 Posted: 17 Oct 2007 Last Revised: 25 Sep 2009
Camilo Serrano and Martin Hoesli
IAZI AG - CIFI SA and University of Geneva - Geneva School of Economics and Management (GSEM)
Downloads 333 (151,509)

Abstract:

Loading...

Forecasting, Multifactor Models, EREITs, Securitized Real Estate

35.

Fractional Cointegration Analysis of Securitized Real Estate

Downloads 325 (155,547)
Citation 1

Fractional Cointegration Analysis of Securitized Real Estate

Journal of Real Estate Finance and Economics, Forthcoming, Swiss Finance Institute Research Paper No. 09-08
Number of pages: 35 Posted: 22 Mar 2009 Last Revised: 19 Dec 2009
Camilo Serrano and Martin Hoesli
IAZI AG - CIFI SA and University of Geneva - Geneva School of Economics and Management (GSEM)
Downloads 325 (154,522)
Citation 1

Abstract:

Loading...

Fractional Cointegration, Fractionally Integrated Error Correction Model (FIECM), Forecasting, Multifactor Models, Securitized Real Estate, REITs

Fractional Cointegration Analysis of Securitized Real Estate

Journal of Real Estate Finance and Economics, Vol. 44, No. 3, 2012
Posted: 24 Feb 2012
Camilo Serrano and Martin Hoesli
IAZI AG - CIFI SA and University of Geneva - Geneva School of Economics and Management (GSEM)

Abstract:

Loading...

Fractional cointegration, Fractionally integrated error correction model (FIECM), Forecasting, Multifactor models, Securitized real estate, REITs

36.

Constant-Quality House Price Indexes for Switzerland

Swiss Finance Institute Research Paper No. 08-10
Number of pages: 22 Posted: 29 May 2008
Steven C. Bourassa, Martin Hoesli, Donato Flavio Scognamiglio and Philippe Sormani
Florida Atlantic University, University of Geneva - Geneva School of Economics and Management (GSEM), University of Berne, Institut für Finanzmanagement and affiliation not provided to SSRN
Downloads 323 (156,585)
Citation 4

Abstract:

Loading...

house price indexes, hedonic method, Switzerland

37.

Volatility Spillovers, Comovements and Contagion in Securitized Real Estate Markets

Swiss Finance Institute Research Paper No. 10-40
Number of pages: 55 Posted: 30 Sep 2010 Last Revised: 18 Oct 2011
Martin Hoesli and Reka Kustrim
University of Geneva - Geneva School of Economics and Management (GSEM) and University of Geneva
Downloads 309 (165,710)
Citation 15

Abstract:

Loading...

volatility Spillovers, Financial Contagion, Asymmetric BEKK Model, Copulas, Structural Breaks, Real Estate Securities

38.

Do Public Real Estate Returns Really Lead Private Returns?

Swiss Finance Institute Research Paper No. 10-47
Number of pages: 45 Posted: 25 Nov 2010 Last Revised: 10 Dec 2013
Elias Oikarinen, Martin Hoesli and Camilo Serrano
University of Oulu - Oulu Business School, University of Geneva - Geneva School of Economics and Management (GSEM) and IAZI AG - CIFI SA
Downloads 306 (165,710)
Citation 3

Abstract:

Loading...

Direct Real Estate; Securitized Real Estate; REITs; Vector Error-Correction Models; Generalized Impulse Response Function; Dynamics; Escrow Lag

39.

Robust Desmoothed Real Estate Returns

Swiss Finance Institute Research Paper No. 19-32, June 2019
Number of pages: 65 Posted: 28 Jun 2019
Jean-Christophe Delfim and Martin Hoesli
University of Geneva - Geneva School of Economics and Management and University of Geneva - Geneva School of Economics and Management (GSEM)
Downloads 295 (172,229)

Abstract:

Loading...

Desmoothing models; Robust filter; Appraisal-based index; Private real estate; Unlevered REITs

40.

The Integration of Securitized Real Estate and Financial Assets

FAME Working Paper No. 111
Number of pages: 49 Posted: 28 Jun 2004
Severine Cauchie and Martin Hoesli
University of Geneva - Geneva Finance Research Institute (GFRI) and University of Geneva - Geneva School of Economics and Management (GSEM)
Downloads 288 (176,668)
Citation 1

Abstract:

Loading...

Securitized Real Estate, Statistical APT, Macroeconomic APT, Market Integration, Risk Factors

41.

Determinants of the Homeownership Rate: A Survey of Recent Contributions

Swiss Finance Institute Research Paper No. 11-49
Number of pages: 36 Posted: 22 Sep 2014
Steven C. Bourassa, Donald R. Haurin, Patric H. Hendershott and Martin Hoesli
Florida Atlantic University, Ohio State University (OSU) - Economics, University of Aberdeen - Aberdeen Business School and University of Geneva - Geneva School of Economics and Management (GSEM)
Downloads 286 (177,958)

Abstract:

Loading...

homeownership, demographics, tenure choice, housing policy, costs of owning and renting, borrowing constraints

42.

Listed Real Estate as an Inflation Hedge across Regimes

Swiss Finance Institute Research Paper No. 23-13
Number of pages: 56 Posted: 17 Feb 2023 Last Revised: 12 Apr 2023
Jan Muckenhaupt, Martin Hoesli and Bing Zhu
Technische Universität München (TUM), University of Geneva - Geneva School of Economics and Management (GSEM) and Technische Universität München (TUM)
Downloads 283 (179,880)

Abstract:

Loading...

Inflation Hedging, Listed Real Estate Companies, Markov-Switching, VECM, Inflation-Hedging Portfolio

43.

Spatial Dependence, Housing Submarkets, and House Prices

Number of pages: 29 Posted: 09 Aug 2005
Steven C. Bourassa, Eva Cantoni and Martin Hoesli
Florida Atlantic University, University of Geneva and University of Geneva - Geneva School of Economics and Management (GSEM)
Downloads 281 (181,192)
Citation 6

Abstract:

Loading...

spatial dependence, hedonic price models, geostatistical models, lattice models, mass appraisal, housing submarkets

44.

Risk Factors of European Non-Listed Real Estate Fund Returns

Swiss Finance Institute Research Paper No. 16-37
Number of pages: 31 Posted: 14 Jun 2016
Jean-Christophe Delfim and Martin Hoesli
University of Geneva - Geneva School of Economics and Management and University of Geneva - Geneva School of Economics and Management (GSEM)
Downloads 271 (187,861)
Citation 1

Abstract:

Loading...

Non-listed real estate; real estate funds; risk factors; macroeconomy; European markets.

45.

Estimation and Updating Methods for Hedonic Valuation

Swiss Finance Institute Research Paper No. 18-76
Number of pages: 27 Posted: 13 Dec 2018 Last Revised: 04 Jan 2019
Michael Mayer, Steven C. Bourassa, Martin Hoesli and Donato Flavio Scognamiglio
Schweizerische Mobiliar Versicherungsgesellschaft, Florida Atlantic University, University of Geneva - Geneva School of Economics and Management (GSEM) and University of Berne, Institut für Finanzmanagement
Downloads 266 (192,207)
Citation 3

Abstract:

Loading...

Hedonic models, Appraisal accuracy, Appraisal volatility, Machine learning, Robust regression, Mixed effects models, Random forests, Gradient boosting, Neural networks

46.

House Prices, Fundamentals and Inflation

Number of pages: 35 Posted: 20 Feb 2005
Angela J. Black, Patricia Fraser and Martin Hoesli
University of Aberdeen - Business School, Curtin University of Technology - Curtin Business School - Bentley Campus and University of Geneva - Geneva School of Economics and Management (GSEM)
Downloads 266 (191,468)

Abstract:

Loading...

House prices, fundamentals, inflation, monetary policy

47.

Do Housing Submarkets Really Matter?

FAME Research Paper No. 58
Number of pages: 33 Posted: 29 Apr 2003
Martin Hoesli, Steven C. Bourassa and Vincent S. Peng
University of Geneva - Geneva School of Economics and Management (GSEM), Florida Atlantic University and AMP Henderson Global Investors Limited
Downloads 264 (192,947)
Citation 16

Abstract:

Loading...

Housing, Submarkets, Price Predictions, Mass Appraisal, Hedonic Method

48.

Contagion Channels between Real Estate and Financial Markets

Downloads 252 (202,080)
Citation 1

Contagion Channels between Real Estate and Financial Markets

Swiss Finance Institute Research Paper No. 13-12
Number of pages: 51 Posted: 05 Apr 2013 Last Revised: 10 Apr 2013
Martin Hoesli and Reka Kustrim
University of Geneva - Geneva School of Economics and Management (GSEM) and University of Geneva
Downloads 252 (201,237)

Abstract:

Loading...

Real Estate, REITs, Contagion Channels, Sentiment, Liquidity, Financial Markets

Contagion Channels between Real Estate and Financial Markets

Real Estate Economics, Forthcoming
Posted: 07 Feb 2014
Martin Hoesli and Reka Kustrim
University of Geneva - Geneva School of Economics and Management (GSEM) and University of Geneva

Abstract:

Loading...

Real Estate, REITs, Contagion Channels, Sentiment, Liquidity, Financial Markets

49.

Structured Additive Regression and Tree Boosting

Swiss Finance Institute Research Paper No. 21-83
Number of pages: 38 Posted: 20 Sep 2021 Last Revised: 07 Dec 2021
Michael Mayer, Steven C. Bourassa, Martin Hoesli and Donato Scognamiglio
Schweizerische Mobiliar Versicherungsgesellschaft, Florida Atlantic University, University of Geneva - Geneva School of Economics and Management (GSEM) and IAZI AG - CIFI SA
Downloads 209 (241,541)

Abstract:

Loading...

machine learning, structured additive regression, gradient boosting, interpretability, transparency

50.

Is Financial Regulation Good or Bad for Real Estate Companies? – An Event Study

Swiss Finance Institute Research Paper No. 16-20
Number of pages: 45 Posted: 09 Mar 2016 Last Revised: 30 Aug 2017
Martin Hoesli, Stanimira Milcheva and Alex Moss
University of Geneva - Geneva School of Economics and Management (GSEM), University College London and University of Reading - Henley Business School
Downloads 197 (254,970)
Citation 1

Abstract:

Loading...

Financial market regulation, Basel III, AIFMD, EMIR, event study, listed property companies, CAPM

51.

Revisiting Metropolitan House Price-Income Relationships

Swiss Finance Institute Research Paper No. 21-32
Number of pages: 42 Posted: 21 Apr 2021
Elias Oikarinen, Steven C. Bourassa, Martin Hoesli and Janne Engblom
University of Oulu - Oulu Business School, Florida Atlantic University, University of Geneva - Geneva School of Economics and Management (GSEM) and University of Turku - Turku School of Economics
Downloads 184 (271,082)

Abstract:

Loading...

House prices; Personal income; Spatial equilibrium; Regional heterogeneity; Supply elasticity

52.

Commonality in Liquidity and Real Estate Securities

Downloads 154 (315,623)
Citation 1

Commonality in Liquidity and Real Estate Securities

Swiss Finance Institute Research Paper No. 14-30
Number of pages: 47 Posted: 10 May 2014
Martin Hoesli, Anjeza Kadilli and Reka Kustrim
University of Geneva - Geneva School of Economics and Management (GSEM), University of Geneva, School of Economics and Management and University of Geneva
Downloads 154 (315,947)
Citation 1

Abstract:

Loading...

Real Estate Securities; REITs; Commonality in Liquidity; Liquidity Risk; Asset Pricing; Threshold Regression; Panel Data

Commonality in Liquidity and Real Estate Securities

Journal of Real Estate Finance and Economics, Vol. 55, No. 1, 2017
Posted: 27 Jul 2017
Kustrim Reka, Anjeza Kadilli and Martin Hoesli
University of Geneva, University of Geneva, School of Economics and Management and University of Geneva - Geneva School of Economics and Management (GSEM)

Abstract:

Loading...

Real Estate Securities; REITs; Commonality in Liquidity; Liquidity Risk; Multi-Factor Model; Threshold Regression; Panel Data

53.

The Performance of Non-Listed Opportunity Real Estate Funds in China

Swiss Finance Institute Research Paper No. 21-27
Number of pages: 27 Posted: 19 Mar 2021 Last Revised: 22 Mar 2021
Graeme Newell, Jufri Marzuki, Martin Hoesli and Rose Neng Lai
Western Sydney University - School of Economics and Finance, Western Sydney University, University of Geneva - Geneva School of Economics and Management (GSEM) and University of Macau
Downloads 141 (338,879)

Abstract:

Loading...

Non-listed real estate fund, opportunity real estate fund, China, risk-adjusted performance, real estate investment strategy

54.

Tenant Industry Sector and European Listed Real Estate Performance

Swiss Finance Institute Research Paper No. 22-08
Number of pages: 37 Posted: 14 Jan 2022
Jan Muckenhaupt, Martin Hoesli and Bing Zhu
Technische Universität München (TUM), University of Geneva - Geneva School of Economics and Management (GSEM) and Technische Universität München (TUM)
Downloads 139 (342,696)

Abstract:

Loading...

Public Real Estate Companies, Listed Real Estate, Tenants, Industry Sector, Systematic Risk

55.

Hedonic Models and Market Segmentation

Swiss Finance Institute Research Paper No. 21-62
Number of pages: 48 Posted: 03 Sep 2021
Steven C. Bourassa, Martijn Dröes and Martin Hoesli
Florida Atlantic University, University of Amsterdam and University of Geneva - Geneva School of Economics and Management (GSEM)
Downloads 138 (344,652)

Abstract:

Loading...

market segmentation, product differentiation, hedonic model, finite mixture model.

56.

Real Estate Research in Europe

Swiss Finance Institute Research Paper No. 16-40
Number of pages: 24 Posted: 17 Jun 2016
Martin Hoesli
University of Geneva - Geneva School of Economics and Management (GSEM)
Downloads 136 (348,623)

Abstract:

Loading...

Real Estate Research; Europe; Research Themes

57.

Portfolio Diversification across U.S. Gateway and Non-Gateway Real Estate Markets

Swiss Finance Institute Research Paper No. 21-89, Journal of Real Estate Research, forthcoming
Number of pages: 52 Posted: 15 Dec 2021 Last Revised: 25 Jan 2022
Martin Hoesli and Louis Johner
University of Geneva - Geneva School of Economics and Management (GSEM) and University of Geneva - Geneva School of Economics and Management
Downloads 131 (358,682)
Citation 1

Abstract:

Loading...

Commercial Real Estate; Gateway Markets; Non-Gateway Markets; Diversification; Risk-Adjusted Performance; Downside Risk

58.

The Effect of Lock-Ups on the Suggested Real Estate Portfolio Weight

Swiss Finance Institute Research Paper No. 12-22
Number of pages: 30 Posted: 22 May 2012 Last Revised: 18 Dec 2012
Martin Hoesli, Eva Liljeblom and Anders Löflund
University of Geneva - Geneva School of Economics and Management (GSEM), Swedish School of Economics and Business Administration and Hanken School of Economics
Downloads 131 (358,682)
Citation 2

Abstract:

Loading...

asset allocation, illiquidity, lock-up, multi-period portfolio policy, REITs

59.

Implicit Forward Rents as Predictors of Future Rents

FAME Research Paper No. 59
Number of pages: 43 Posted: 15 May 2003
Martin Hoesli, Peter Englund, Ake Gunnelin and Bo Soederberg
University of Geneva - Geneva School of Economics and Management (GSEM), Swedish House of Finance, Royal Institute of Technology (KTH) - Department of Real Estate and Construction Management and University of Gävle - Department of Business Administration
Downloads 130 (360,833)
Citation 5

Abstract:

Loading...

Term Structure, Expectations Hypothesis, Forward Rents, Rental Index Construction

60.

Housing and its Role in the Household Portfolio in Colombia

Swiss Finance Institute Research Paper No. 10-01
Number of pages: 29 Posted: 12 Jan 2010
Camilo Serrano and Martin Hoesli
IAZI AG - CIFI SA and University of Geneva - Geneva School of Economics and Management (GSEM)
Downloads 126 (369,344)
Citation 1

Abstract:

Loading...

Housing, Home Ownership, Household Portfolio, Modern Portfolio Theory, Efficient Frontiers, Colombia

61.

What Affects Children's Outcomes: House Characteristics or Homeownership?

Swiss Finance Institute Research Paper No. 15-42
Number of pages: 33 Posted: 04 Oct 2015
Steven C. Bourassa, Donald R. Haurin and Martin Hoesli
Florida Atlantic University, Ohio State University (OSU) - Economics and University of Geneva - Geneva School of Economics and Management (GSEM)
Downloads 113 (400,032)
Citation 2

Abstract:

Loading...

child outcomes, crowding, homeownership, educational attainment

62.

U.S. Metropolitan House Price Dynamics

Swiss Finance Institute Research Paper No. 17-72
Number of pages: 46 Posted: 10 Jan 2018
Elias Oikarinen, Steven C. Bourassa, Martin Hoesli and Janne Engblom
University of Oulu - Oulu Business School, Florida Atlantic University, University of Geneva - Geneva School of Economics and Management (GSEM) and University of Turku - Turku School of Economics
Downloads 110 (407,902)
Citation 3

Abstract:

Loading...

house prices, dynamics, panel data, spatial heterogeneity, spatial dependence, bubbles

63.

High Frequency House Price Indexes with Scarce Data

Swiss Finance Institute Research Paper No. 16-27
Number of pages: 23 Posted: 03 Jun 2016 Last Revised: 06 Mar 2017
Steven C. Bourassa and Martin Hoesli
Florida Atlantic University and University of Geneva - Geneva School of Economics and Management (GSEM)
Downloads 106 (418,702)
Citation 5

Abstract:

Loading...

House Prices, High-Frequency Price Indexes, Repeat Sales Method, Scarce Data

64.

Robust Repeat Sales Indexes

Downloads 105 (421,534)

Robust Repeat Sales Indexes

Swiss Finance Institute Research Paper No. 11-46
Number of pages: 48 Posted: 19 Oct 2011
Steven C. Bourassa, Eva Cantoni and Martin Hoesli
Florida Atlantic University, University of Geneva and University of Geneva - Geneva School of Economics and Management (GSEM)
Downloads 105 (424,149)

Abstract:

Loading...

repeat sales indexes, robust methods, flips, distressed sales, index revision

Robust Repeat Sales Indexes

Real Estate Economics, Forthcoming
Posted: 22 Feb 2012
Steven C. Bourassa, Martin Hoesli and Eva Cantoni
Florida Atlantic University, University of Geneva - Geneva School of Economics and Management (GSEM) and University of Geneva

Abstract:

Loading...

repeat sales indexes, robust methods, flips, distressed sales, index revision

65.

The Role of Multi-Family Properties in Hedging Pension Liability Risk: Long-Run Evidence

Swiss Finance Institute Research Paper No. 23-08
Number of pages: 44 Posted: 07 Feb 2023 Last Revised: 12 Apr 2023
Martin Hoesli, Louis Johner and Jon Lekander
University of Geneva - Geneva School of Economics and Management (GSEM), University of Geneva - Geneva School of Economics and Management and Royal Institute of Technology (KTH)
Downloads 97 (445,080)

Abstract:

Loading...

Multi-family properties, Mixed-asset portfolio, Pension fund, Wages, Long run, Sweden

66.

House Price Bubble Detection in Ukraine

Swiss Finance Institute Research Paper No. 22-78, Journal of European Real Estate Research, Forthcoming
Number of pages: 42 Posted: 12 Oct 2022 Last Revised: 25 Apr 2023
Alona Shmygel and Martin Hoesli
National Bank of Ukraine and University of Geneva - Geneva School of Economics and Management (GSEM)
Downloads 94 (454,339)

Abstract:

Loading...

house price bubbles, fundamental house prices, mortgage lending, systemic risk, regression analysis, Ukraine.

67.

Hedonic, Residual, and Matching Methods for Residential Land Valuation

Swiss Finance Institute Research Paper No. 22-55
Number of pages: 38 Posted: 29 Jun 2022 Last Revised: 04 Jul 2022
Steven C. Bourassa and Martin Hoesli
Florida Atlantic University and University of Geneva - Geneva School of Economics and Management (GSEM)
Downloads 88 (476,847)

Abstract:

Loading...

Land valuation, Hedonic method, Residual approach, Land leverage, Matching approach

68.

Commercial Real Estate Prices in Europe After COVID-19

Swiss Finance Institute Research Paper No. 23-73
Number of pages: 40 Posted: 01 Sep 2023
Martin Hoesli and Richard Malle
University of Geneva - Geneva School of Economics and Management (GSEM) and Conservatoire National des Arts et Métiers (CNAM)
Downloads 83 (490,779)

Abstract:

Loading...

Commercial real estate prices; Europe; COVID-19; Industrial; Residential

69.

Multifamily Residential Asset and Space Markets and Linkages with the Economy

Journal of Property Research, 2014, Swiss Finance Institute Research Paper No. 14-32
Number of pages: 38 Posted: 17 May 2014
Martin Hoesli and Alain Chaney
University of Geneva - Geneva School of Economics and Management (GSEM) and Universitiy of Geneva
Downloads 78 (508,963)

Abstract:

Loading...

multifamily residential, macroeconomy, error correction models, cointegrated VAR, long run equilibrium modelling

70.

International Firm Performance and Proximity to Rare Disaster Risk

Swiss Finance Institute Research Paper No. 23-16
Number of pages: 56 Posted: 28 Feb 2023
Chongyu Wang, Rose Neng Lai and Martin Hoesli
Florida State University, University of Macau and University of Geneva - Geneva School of Economics and Management (GSEM)
Downloads 62 (575,948)

Abstract:

Loading...

Disaster Risk, International Firm Performance, Equity Risk Premia, Russia’s Invasion of Ukraine, Sanction, Real Estate, Green Building

71.

Commercial Real Estate Prices and COVID-19

Swiss Finance Institute Research Paper No. 21-08, Journal of European Real Estate Research, Forthcoming
Posted: 26 Jan 2021 Last Revised: 23 Sep 2021
Martin Hoesli and Richard Malle
University of Geneva - Geneva School of Economics and Management (GSEM) and Conservatoire National des Arts et Métiers (CNAM)

Abstract:

Loading...

Commercial real estate prices; COVID-19; Pandemic; Office; Retail; Hospitality

72.

The Resilience and Realignment of House Prices in the Era of COVID-19

Swiss Finance Institute Research Paper 20-121, Journal of European Real Estate Research (2021), forthcoming
Posted: 03 Dec 2020 Last Revised: 23 Feb 2021
John V. Duca, Martin Hoesli, Joaquim Montezuma and Joaquim Montezuma
Oberlin College, University of Geneva - Geneva School of Economics and Management (GSEM) and ImoEconometricsISEG - Lisbon School of Economics and Management- University of Lisbon

Abstract:

Loading...

House prices; COVID-19; Pandemic; Housing demand; Tourism; Behavioral effects

73.

An Investigation of the Synchronization in Global House Prices

Swiss Finance Institute Research Paper No. 20-06, Journal of European Real Estate Research (2020), Vol. 13 No. 1, pp. 17-27
Posted: 02 Mar 2020 Last Revised: 27 Nov 2020
Martin Hoesli
University of Geneva - Geneva School of Economics and Management (GSEM)

Abstract:

Loading...

Synchronization, Housing markets, House prices, Global liquidity, Housing supply, Housing demand, Magnet cities, Housing policy

74.

Robust Hedonic Price Indexes

International Journal of Housing Markets and Analysis, Forthcoming, Swiss Finance Institute Research Paper No. 13-49
Posted: 19 Oct 2013 Last Revised: 14 Jan 2016
Steven C. Bourassa, Eva Cantoni and Martin Hoesli
Florida Atlantic University, University of Geneva and University of Geneva - Geneva School of Economics and Management (GSEM)

Abstract:

Loading...

House price indexes, Hedonic models, Robust methods, Distressed sales

75.

Volatility Spillovers, Comovements and Contagion in Securitized Real Estate Markets

Journal of Real Estate Finance and Economics, Vol. 47, No. 1, 2013
Posted: 29 May 2013
Martin Hoesli and Reka Kustrim
University of Geneva - Geneva School of Economics and Management (GSEM) and University of Geneva

Abstract:

Loading...

Volatility spillovers, Financial contagion, Asymmetric BEKK model, Copulas, Structural breaks, Real Estate securities

76.

Spatial Dependence, Housing Submarkets, and House Price Prediction

Journal of Real Estate Finance and Economics, Vol. 35, No. 2, 2007
Posted: 28 Mar 2007
Steven C. Bourassa, Eva Cantoni and Martin Hoesli
Florida Atlantic University, University of Geneva and University of Geneva - Geneva School of Economics and Management (GSEM)

Abstract:

Loading...

models, mass appraisal, housing submarkets

77.

Time-Varying Betas and Cross-Sectional Return-Risk Relation: Evidence from the UK

Posted: 14 Jul 2000
Patricia Fraser, Foort Hamelink, Martin Hoesli and Bryan MacGregor
Curtin University of Technology - Curtin Business School - Bentley Campus, Lombard Odier Asset Management (SA), University of Geneva - Geneva School of Economics and Management (GSEM) and University of Aberdeen - Centre for Property Research

Abstract:

Loading...

78.

Optimal Diversification within Mixed-Asset Portfolios Using a Conditional Heteroskedasticity Approach: Evidence from the U.S. And the U.K.

Posted: 16 Apr 1999
Michael Giliberto, Foort Hamelink, Martin Hoesli and Bryan MacGregor
JPMorgan Asset Management, Lombard Odier Asset Management (SA), University of Geneva - Geneva School of Economics and Management (GSEM) and University of Aberdeen - Centre for Property Research

Abstract:

Loading...

79.

Three New Real Estate Price Indices for Geneva, Switzerland

J. OF REAL ESTATE FINANCE AND ECONOMICS, Vol. 15 No. 1
Posted: 04 Jul 1997
Martin Hoesli, Carmelo Giaccotto and Philippe Favarger
University of Geneva - Geneva School of Economics and Management (GSEM), University of Connecticut - Department of Finance and Federal Polytechnical University

Abstract:

Loading...

80.

The Short Term Inflation Hedging Characteristics of UK Real Estate

J. OF REAL ESTATE FINANCE AND ECONOMICS, Vol. 15 No. 1, Cass Business School Research Paper
Posted: 09 May 1997
Martin Hoesli, Bryan MacGregor, George Matysiak and Nanda Nanthakumaran
University of Geneva - Geneva School of Economics and Management (GSEM), University of Aberdeen - Centre for Property Research, City University London - Faculty of Finance and University of Aberdeen

Abstract:

Loading...

81.

International Evidence on Real Estate Securities as an Inflation Hedge

REAL ESTATE ECONOMICS, Vol. 25 No. 5, Summer 1997
Posted: 28 Mar 1997
Crocker H. Liu, David J. Hartzell and Martin Hoesli
Arizona State University, University of North Carolina at Chapel Hill and University of Geneva - Geneva School of Economics and Management (GSEM)

Abstract:

Loading...