Portfolio Choice With a Fundamental Criterion – An Algorithm and Practical Applicationon – A Computation Methods and Empirical Analysis

Kliber, Paweł; Rutkowska-Ziarko, Anna

doi:10.52950/es.2021.10.1.003

Cited by 2 publications

(1 citation statement)

References 22 publications

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“…All these factors contributed to a sharp and continuous increase in property prices. In fact, the real estate market prices over speeded the overall inflation rate by 10-20%, depending on region, indicating that the property market absorbs inflation expectations promptly [6] and represents a safe port in investor's portfolio in times of increased inflation expectations [7]. High inflation expectations for 2022 [8]…”

Section: Introductionmentioning

confidence: 99%

Change in the Affordability of Owner-Occupied Housing in the Context of Rising Energy Prices

Čermáková

Hromada

2022

Energies

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Household energy constitutes an important share of affordable housing. Unaffordable housing and inadequate household energy represent a new dimension of poverty. Connections between energy, housing affordability and well-being are still under-researched. Building on housing affordability framework, this study explores the magnitude in changes in affordability of acquisition and use of an apartment between January 2018 and January 2022. Over the last four years, the real estate market in Europe has changed significantly. This paper deals with primary data for the Czech Republic, where acquisition prices of residential real estate increased depending on the region in the range of 50 to 120%. Since January 2022, there has been a sharp rise in energy prices and a tightening of conditions for the acquisition of mortgage loans. All these factors affect the standard of living in the Czech Republic. The article quantifies the magnitude of this change by calculating shares of total housing costs to total average net household income for the period January 2018 and January 2022. It is found that the affordability of owner-occupied housing in the Czech Republic has deteriorated and part of the middle class will be forced to move to the rental housing sector, multifamily housing and sharing. Finally, we argue that energy poverty needs to be considered in addressing the government housing policies. The aim of the article is to analyze the changes that have taken place in the real estate market over the last four years in relation to the growth of total housing costs and energy costs associated with housing.

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Section: Introductionmentioning

confidence: 99%

Change in the Affordability of Owner-Occupied Housing in the Context of Rising Energy Prices

Čermáková

Hromada

2022

Energies

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Energy Prices Impact on Inflationary Spiral

et al. 2022

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Energy constitutes an essential share of costs across any economy. The percentage of electricity in the overall energy consumption is steadily increasing. This increase, however, is not reflected correctly in the consumption basket relevant for measuring inflation and, therefore, for monetary policy formulation. We argue that the energy mix reflected in inflation should be revised in favour of electricity. We present an analysis of inflationary pressures across Europe and decompose the impact of energy categories on headline inflation. Building on the inflation expectations framework, this study examines the characteristics and magnitude of the current energy price dynamics and quantifies its share in the countries’ effective inflation. Our research also confirms a compelling insight into the country’s energy structure and inflationary pressures when a larger share of renewable electricity sources proves to be associated with lower inflation. Finally, we argue that the energy price shock cannot be viewed as a one-shot event as in the case of oil price shocks in the past. We draw recommendations for monetary policy formulation. The implication of renewable sources on inflation should be of interest to policymakers, especially in times of high, almost galloping inflation rates in some European countries, unstable fossil energy sources supply due to geopolitical instability, and climate crisis.

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Portfolio Choice With a Fundamental Criterion – An Algorithm and Practical Applicationon – A Computation Methods and Empirical Analysis

Cited by 2 publications

References 22 publications

Change in the Affordability of Owner-Occupied Housing in the Context of Rising Energy Prices

Change in the Affordability of Owner-Occupied Housing in the Context of Rising Energy Prices

Energy Prices Impact on Inflationary Spiral

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