{"created":"2021-03-01T07:02:32.970754+00:00","id":42634,"links":{},"metadata":{"_buckets":{"deposit":"71713c6c-c7d9-4e94-9c5a-edc5aae8f754"},"_deposit":{"id":"42634","owners":[],"pid":{"revision_id":0,"type":"depid","value":"42634"},"status":"published"},"_oai":{"id":"oai:repository.dl.itc.u-tokyo.ac.jp:00042634","sets":["62:377:7438","9:7435:7439"]},"item_8_biblio_info_7":{"attribute_name":"書誌情報","attribute_value_mlt":[{"bibliographicIssueDates":{"bibliographicIssueDate":"2013-04","bibliographicIssueDateType":"Issued"},"bibliographicVolumeNumber":"006","bibliographic_titles":[{"bibliographic_title":"JSPS Grants-in-Aid for Scientific Research (S) Understanding Persistent Deflation in Japan Working Paper Series"}]}]},"item_8_description_5":{"attribute_name":"抄録","attribute_value_mlt":[{"subitem_description":"We investigate the cross-sectional distribution of house prices in the Greater Tokyo Area for the period 1986 to 2009. We find that size-adjusted house prices follow a lognormal distribution except for the period of the housing bubble and its collapse in Tokyo, for which the price distribution has a substantially heavier right tail than that of a lognormal distribution. We also find that, during the bubble era, sharp price movements were concentrated in particular areas, and this spatial heterogeneity is the source of the fat upper tail. These findings suggest that, during a bubble period, prices go up prominently for particular  properties, but not so much for other properties, and as a result, price inequality across properties increases. In other words, the defining property of real estate bubbles is not the rapid price hike itself but an increase in price dispersion. We argue that the shape of cross sectional house price distributions may contain information useful for the detection of housing bubbles.","subitem_description_type":"Abstract"}]},"item_8_description_6":{"attribute_name":"内容記述","attribute_value_mlt":[{"subitem_description":"2012～2016年度科学研究費補助金[基盤研究(S)]「長期デフレの解明」(研究代表者 東京大学経済学研究科・渡辺努, 課題番号：24223003)","subitem_description_type":"Other"}]},"item_8_publisher_20":{"attribute_name":"出版者","attribute_value_mlt":[{"subitem_publisher":"UTokyo Price Project"}]},"item_8_relation_25":{"attribute_name":"関係URI","attribute_value_mlt":[{"subitem_relation_type_id":{"subitem_relation_type_id_text":"http://www.price.e.u-tokyo.ac.jp/researchdata/","subitem_relation_type_select":"URI"}}]},"item_8_relation_29":{"attribute_name":"異版あり","attribute_value_mlt":[{"subitem_relation_type":"hasVersion","subitem_relation_type_id":{"subitem_relation_type_id_text":"http://www.carf.e.u-tokyo.ac.jp/workingpaper/F313.html","subitem_relation_type_select":"URI"}}]},"item_8_text_4":{"attribute_name":"著者所属","attribute_value_mlt":[{"subitem_text_value":"Canon Institute for Global Studies"},{"subitem_text_value":"University of Tokyo"},{"subitem_text_value":"National Institute of Informatics"},{"subitem_text_value":"Reitaku University"},{"subitem_text_value":"Graduate School of Economics, University of Tokyo"}]},"item_creator":{"attribute_name":"著者","attribute_type":"creator","attribute_value_mlt":[{"creatorNames":[{"creatorName":"Ohnishi, Takaaki"}],"nameIdentifiers":[{"nameIdentifier":"98051","nameIdentifierScheme":"WEKO"}]},{"creatorNames":[{"creatorName":"Mizuno, Takayuki"}],"nameIdentifiers":[{"nameIdentifier":"98052","nameIdentifierScheme":"WEKO"}]},{"creatorNames":[{"creatorName":"Shimizu, Chihiro"}],"nameIdentifiers":[{"nameIdentifier":"98053","nameIdentifierScheme":"WEKO"}]},{"creatorNames":[{"creatorName":"Watanabe, Tsutomu"}],"nameIdentifiers":[{"nameIdentifier":"98054","nameIdentifierScheme":"WEKO"}]}]},"item_files":{"attribute_name":"ファイル情報","attribute_type":"file","attribute_value_mlt":[{"accessrole":"open_date","date":[{"dateType":"Available","dateValue":"2017-06-16"}],"displaytype":"detail","filename":"wp006.pdf","filesize":[{"value":"1.1 MB"}],"format":"application/pdf","licensetype":"license_note","mimetype":"application/pdf","url":{"label":"wp006.pdf","url":"https://repository.dl.itc.u-tokyo.ac.jp/record/42634/files/wp006.pdf"},"version_id":"1ea4bb7a-9a03-4954-93a2-71367058058c"}]},"item_keyword":{"attribute_name":"キーワード","attribute_value_mlt":[{"subitem_subject":"JEL Classification Numbers: R10; C16","subitem_subject_scheme":"Other"},{"subitem_subject":"house price indexes","subitem_subject_scheme":"Other"},{"subitem_subject":"lognormal distributions","subitem_subject_scheme":"Other"},{"subitem_subject":"power-law distributions","subitem_subject_scheme":"Other"},{"subitem_subject":"fat tails","subitem_subject_scheme":"Other"},{"subitem_subject":"hedonic regression","subitem_subject_scheme":"Other"},{"subitem_subject":"housing bubbles","subitem_subject_scheme":"Other"},{"subitem_subject":"market segmentation","subitem_subject_scheme":"Other"}]},"item_language":{"attribute_name":"言語","attribute_value_mlt":[{"subitem_language":"eng"}]},"item_resource_type":{"attribute_name":"資源タイプ","attribute_value_mlt":[{"resourcetype":"technical report","resourceuri":"http://purl.org/coar/resource_type/c_18gh"}]},"item_title":"Detecting Real Estate Bubbles: A New Approach Based on the Cross-Sectional Dispersion of Property Prices","item_titles":{"attribute_name":"タイトル","attribute_value_mlt":[{"subitem_title":"Detecting Real Estate Bubbles: A New Approach Based on the Cross-Sectional Dispersion of Property Prices"}]},"item_type_id":"8","owner":"1","path":["7439","7438"],"pubdate":{"attribute_name":"公開日","attribute_value":"2015-05-11"},"publish_date":"2015-05-11","publish_status":"0","recid":"42634","relation_version_is_last":true,"title":["Detecting Real Estate Bubbles: A New Approach Based on the Cross-Sectional Dispersion of Property Prices"],"weko_creator_id":"1","weko_shared_id":null},"updated":"2022-12-19T04:15:48.260079+00:00"}