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, 1211

Switzerland

Swiss Finance Institute

c/o University of Geneva

40, Bd du Pont-d'Arve

CH-1211 Geneva 4

Switzerland

University of Geneva - Research Center for Statistics

Geneva

Switzerland

University of Aberdeen - Business School

Professor of Finance

Edward Wright Building

Dunbar Street

Aberdeen, Scotland AB24 3QY

United Kingdom

SCHOLARLY PAPERS

66

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Scholarly Papers (66)

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 1,712 (9,390)
Citation 1

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

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 1,573 (10,619)
Citation 15

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

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

European Financial Management, Vol. 11, No. 1, pp. 51-69, January 2005
Number of pages: 16 Posted: 12 Jan 2005
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 23 (521,279)
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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), Aberdeen Property Investors Nordic Region and Aberdeen Property Investors Nordic Region
Downloads 957 (22,700)
Citation 25

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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), Aberdeen Property Investors Nordic Region and Aberdeen Property Investors Nordic Region
Downloads 614 (42,009)

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

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 1,079 (19,357)

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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 1,046 (20,220)
Citation 4

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

6.
Downloads 1,035 ( 20,552)
Citation 3

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 1,035 (20,178)
Citation 3

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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)

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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 Turku, Department of Economics
Downloads 906 (25,029)
Citation 5

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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 883 (25,948)
Citation 1

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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 846 (27,561)
Citation 4

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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 728 (33,889)
Citation 4

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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
Florida Atlantic University, University of Geneva - Geneva School of Economics and Management (GSEM) and University of Berne, Institut für Finanzmanagement
Downloads 630 (41,173)
Citation 7

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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 561 (47,947)
Citation 7

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

13.

The Determinants of Stock Returns in a Small Open Economy

EFMA 2003 Helsinki Meetings
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 - Faculty of Economics and Social Science
Downloads 521 (52,623)
Citation 2

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Statistical APT; Macroeconomic APT; Market integration; Risk factors

14.

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
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 484 (57,807)
Citation 4

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homeownership, tax policy, house prices

15.

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 431 (66,588)

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Global Securitized Real Estate, REITs, Benchmark, Index Characteristics

16.
Downloads 421 ( 68,477)
Citation 1

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 Turku, Department of Economics
Downloads 421 (67,843)

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

Measuring House Price Bubbles

Real Estate Economics, Vol. 47, Issue 2, pp. 534-563, 2019
Number of pages: 30 Posted: 16 Apr 2019
Steven C. Bourassa, Martin Hoesli and Elias Oikarinen
Florida Atlantic University, University of Geneva - Geneva School of Economics and Management (GSEM) and University of Turku, Department of Economics
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Citation 1
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17.

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 403 (72,220)

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Multifactor Models, Betas, Pure Factors, Securitized Real Estate

18.

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 390 (75,018)
Citation 6

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

19.

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 374 (78,710)
Citation 4

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

20.

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 Aberdeen Property Investors Nordic Region
Downloads 374 (78,710)
Citation 1

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

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 364 (80,620)
Citation 1

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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)

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

22.

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 Turku, Department of Economics, University of Geneva - Geneva School of Economics and Management (GSEM) and IAZI AG - CIFI SA
Downloads 356 (83,400)
Citation 5

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

23.
Downloads 347 ( 85,904)
Citation 1

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 347 (85,280)
Citation 1

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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

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

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

FAME Research Paper No. 160
Number of pages: 37 Posted: 03 Jan 2006
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 346 (85,568)
Citation 3

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

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

Real Estate Economics, Vol. 37, Issue 2, pp. 259-278, Summer 2009
Number of pages: 20 Posted: 01 Jun 2009
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 1 (685,416)
Citation 2
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25.

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 338 (88,494)
Citation 5

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Views, Property Values, Hedonic Models, Externalities

26.
Downloads 317 ( 94,995)

Land Leverage and House Prices

Swiss Finance Institute Research Paper No. 10-48
Number of pages: 45 Posted: 03 Dec 2010
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 242 (125,944)

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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
University of Geneva - Geneva School of Economics and Management (GSEM), Florida Atlantic University, affiliation not provided to SSRN and University of Louisville - School of Urban & Public Affairs
Downloads 75 (320,565)

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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 313 (96,369)
Citation 7

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

28.

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 299 (101,255)
Citation 16

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House price indexes

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 298 (101,105)
Citation 1

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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)

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

30.

Constant-Quality House Price Indexes for Switzerland

Swiss Finance Institute Research Paper No. 08-10
Number of pages: 22 Posted: 29 May 2008
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 290 (104,721)
Citation 4

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house price indexes, hedonic method, Switzerland

31.

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 285 (106,692)

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Forecasting, Multifactor Models, EREITs, Securitized Real Estate

32.

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 260 (117,462)
Citation 3

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

33.

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

Number of pages: 28 Posted: 08 Mar 2004
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 258 (118,424)
Citation 1

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Real Estate Appraisal, DCF, Discount Rates, Capitalization Rates

34.

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 256 (119,386)

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

35.

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 248 (123,354)
Citation 1

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

36.

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 Turku, Department of Economics
Downloads 238 (128,572)
Citation 1

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

37.

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 237 (129,095)
Citation 14

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

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 Turku, Department of Economics, University of Geneva - Geneva School of Economics and Management (GSEM) and IAZI AG - CIFI SA
Downloads 223 (137,069)
Citation 1

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

39.

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 218 (140,140)
Citation 4

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

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 217 (140,386)

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

Contagion Channels between Real Estate and Financial Markets

Real Estate Economics, Vol. 43, Issue 1, pp. 101-138, 2015
Number of pages: 38 Posted: 17 Feb 2015
Kustrim Reka and Martin Hoesli
University of Geneva and University of Geneva - Geneva School of Economics and Management (GSEM)
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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

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

41.

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 210 (145,101)

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House prices, fundamentals, inflation, monetary policy

42.

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
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 176 (170,732)

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

43.

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 174 (172,445)

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

44.

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 145 (201,133)

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

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 134 (215,046)

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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)

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

46.

Implicit Forward Rents as Predictors of Future Rents

FAME Research Paper No. 59
Number of pages: 43 Posted: 15 May 2003
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 106 (254,952)
Citation 5

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

47.

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 101 (263,558)

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Real Estate Research; Europe; Research Themes

48.

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 101 (263,558)
Citation 2

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

49.

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 97 (270,664)

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

50.
Downloads 83 (298,753)
Citation 3

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 83 (301,388)

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

Robust Repeat Sales Indexes

Real Estate Economics, Vol. 41, Issue 3, pp. 517-541, 2013
Number of pages: 25 Posted: 14 Sep 2013
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)
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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

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

51.

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

52.

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
Florida Atlantic University, Ohio State University (OSU) - Economics and University of Geneva - Geneva School of Economics and Management (GSEM)
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child outcomes, crowding, homeownership, educational attainment

53.

U.S. Metropolitan House Price Dynamics

Swiss Finance Institute Research Paper No. 17-72
Number of pages: 46 Posted: 10 Jan 2018
University of Turku, Department of Economics, Florida Atlantic University, University of Geneva - Geneva School of Economics and Management (GSEM) and University of Turku - Turku School of Economics
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house prices, dynamics, panel data, spatial heterogeneity, spatial dependence, bubbles

54.

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
Consult AG Bern, Florida Atlantic University, University of Geneva - Geneva School of Economics and Management (GSEM) and University of Berne, Institut für Finanzmanagement
Downloads 65 (342,890)

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

55.

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

56.

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

57.

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

58.

House Prices, Fundamentals and Bubbles

Journal of Business Finance & Accounting, Vol. 33, No. 9-10, pp. 1535-1555, November/December 2006
Number of pages: 21 Posted: 07 Dec 2006
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)
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59.

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)

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

60.

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

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

61.

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)

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models, mass appraisal, housing submarkets

62.

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

Posted: 14 Jul 2000
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

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63.

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

Journal of Real Estate Portfolio Management, Vol. 5, No. 1, April 1999
Posted: 16 Apr 1999
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

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64.

Three New Real Estate Price Indices for Geneva, Switzerland

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

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65.

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
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

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66.

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)

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