Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/298452 
Year of Publication: 
2023
Series/Report no.: 
Working Paper No. 1/2023
Publisher: 
Norges Bank, Oslo
Abstract: 
By analyzing housing data from the period 1850 to 2019 in Norway, we find evidence of downward nominal house price rigidity. More specifically, we document that there is a marked fraction of repeat-sales housing transactions with a zero nominal price change and show that this fraction increases in housing market downturns. While the former result reveals a rigidity in nominal house prices, the latter suggests that the direction of it is predominantly downward.
Subjects: 
House prices
Repeat sales transaction data
Price rigidity
Monetary policy
Financial crisis
JEL: 
R31
E30
N13
N14
Persistent Identifier of the first edition: 
ISBN: 
978-82-8379-257-7
Creative Commons License: 
cc-by-nc-nd Logo
Document Type: 
Working Paper
Appears in Collections:

Files in This Item:
File
Size





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.