Papers e Apresentações

Working Papers

Buy to let. Investment buyers in a housing search model
Preços da habitação em Portugal - uma análise
The Long-Run Trend of Residential Investment in China - IMF
Crashes and Rebounds in Housing Markets
European Student Housing - Uviversity Cambridge
The Future of Valuations - RICS
Bank lending valuations and mortgage lending value - RICS
Property Tax and Real Estate Value: A Natural Experiment from Portugal
Fundamental determinants of real estate prices: A panel study of German regions
Assessing House Price Developments in the EU
Do Airbnb properties affect house prices?
A New Index of Housing Sentiment
How to Better Measure Hedonic Residential Property Price Indexes
Why is housing such a popular investment?
I prezzi delle abitazioni in Italia, 1927-2012
How much do investors pay for houses?
What causes housing bubbles? A theoretical and empirical inquiry
Measuring Real Estate Portfolio Risk Relative to the Housing Market
The Impact of Rapid Credit Growth on Slovakia’s Housing Market
The time value of housing: historical evidence from London residential leases
House prices: Bubbles, exuberange or something else? Evidence from Euro Area countries
Indices of House Prices and Rent Prices of Residential Property in London, 1895-1939
Indices de Preços Imobiliários
Speculative bubbles in the Stockholm housing market 1875-1935?
Urban House Prices: A Tale of 48 Cities
What history teaches us about house prices and low interest rates
Daily House Price Indices: Construction, Modeling, and Longer-Run Predictions
Credit Supply and the Housing Boom
Bubbles and crises: The role of house prices and credit
Does Local Governments’ Budget Deficit 
Push Up Housing Prices in China?
Forecasting US Real House Price Returns over 1831-2013
The Great Housing Boom of China
The Evolution of Homeownership
House Price Bubbles in China
Forecasting the US Real House Price Index
Housing Finance Across Countries
Criação de Valor na Gestão do Imobiliário com Facilities Management
Comparing Owner Perceptions with Transaction-Based Indexes
Análise Comparativa de Valores de Mercado de Imóveis para Habitação
Does Homeownership lead to longer unemployment spells?
Assessing house prices in Germany
Obtenção de um fórmula que estabeleça uma relação entre a percentagem do valor do terreno e o valor de venda da habitação
Asset Price Bubbles: A Selective Survey
Valorização do activo imobiliário dos Fundos de Investimento Imobiliário Portugueses e suas características
Financial Infrastructure and House Prices
Reverse Mortgage Loans
Modeling the Housing Markets in OECD Countries
Home-seekers in the Housing Market
Internacionalização das cidades
The Spatial Dimension of US House Price Developments
House Prices and Rents: Micro Evidence from a Matched Dataset in Central London
Global House Price Fluctuations: Synchronization and Determinants
Mercado de Arrendamento - Principais Oportunidades e Fragilidades face ao Mercado de Habitação Própria
Clarifying Misunderstandings About Intangible Assets of Hotels
Supply, Demand and Prices in the US Housing Market
The UK's Housing Crisis
The Homeownership Rate among the Elderly and the Life Cycle Hypothesis: European Evidence Using Individual and Household Data
Explaining the Housing Bubble
Housing and Liquidity
Housing Markets during the Rural-Urban: Transition: Evidence from early 20th Century Spain
Survey data on household finance and consumption
Land-Price Dynamics and Macroeconomic Fluctuations
Econometric regime shifts and the US subprime bubble
Do homeowners benefit urban neighborhoods? Evidence from housing prices
Housing Equity Withdrawal, Property Bubbles and Consumption
Testing for rational bubbles in the housing market
Global Housing Cycles
Amenities and location of hotels: a micro-economic model and estimations
The housing market in the Netherlands
Modelling House Prices across Sydney with Estimates for Access, Property Size, Public Transport, Urban Density and Crime
House Price Forecasts in Times of Crisis: Do Forecasters Herd?
Housing Price and Investment Dynamics in Finland
Location, Location, Location: Extracting Location Value
from House Prices

Residential Investment and Economic Growth
Valorização do Activo Imobiliário dos Fundos de Investimento Imobiliário Portugueses e suas características
The Financial Crisis and the Changing Dynamics of the Yield Curve
House price cycles in emerging economies
Systematic and Liquidity Risk in Subprime-Mortgage Backed Securities
Housing Finance in Central America
Survey data on household finance and consumption
Change in the Distribution of House Prices across Spanish Cities
Testing CAPM with a Large Number of Assets
Tighter Borrowing Capacity Is About to End The Uncommon Rise in French Housing Prices
Do House Prices Impact Consumption and Interest Rate?
Australian Residential Housing Market & Hedonic
Construction of House Price Indices for Metropolitan

Housing Market and Current Account Imbalances in the International Economy
Supply Constraints and Housing Market Dynamics
The hidden costs of hidden debt
Do Loan-to-Value and Debt-to-Income Limits Work?
Assessing the impacto of local taxation on propert prices
Is Government Really Solving the Housing Problem?
Owner-occupied Housing as an Investment, Regional House Price Cycles and Residential Sorting
Low Interest Rates and Housing Bubbles: Still No Smoking Gun
Análise da Eficiência de mercado e performance de fundos de investimento imobiliário negociados na BOVESPA
Valorização do Activo Imobiliário dos Fundos de Investimento Imobiliário Portugueses e suas Características
O investimento imobiliário nas carteiras de activos dos fundos de pensões e das seguradoras em Portugal
Maximização da rentabilidade de uma carteira imobiliária
Implantação de empreendimentos de base imobiliária por meio de fundos de investimento imobiliário
Análise do Comportamento dos Investidores Privados na Reabilitação Urbana da Cidade de Lisboa – Segmento Habitação
Integration and Contagion in US Housing Markets
Riding the Yield Curve: A Spanning Analysis
Are Real Estate Markets Integrated with the World Market?
The Impact of Vacant, Tax-Delinquent and Foreclosed Property on Sales Prices of Neighboring Homes
A dynamic model of house price
Is there a bubble in the Chinese housing market?
A simplified Capital Asset Pricing Model
US real estate: buy, hold or fold?
Residential property: how it can help hedge against inflation
A guide to global real estate investment options
Real Estate - safe-haven status?
The rationale for investing in global real estate
Productivity Effects of Land Rental Markets in Ethiopia
Urban Structure and Housing Prices: Some Evidence from Australian Cities
Housing Market and the Transimission of Monetary Policy: Evidence from US States 
Price Dispersion in the Housing Market: The Role of Bargaining and Search Costs
Are Stock and Housing Returns Complements or Substitutes?
Real Estate Investors, the Leverage Cycle, and the Housing Market Crisis
The Determinants of International Commercial Real Estate Investments
Mortgage Defaults
House Prices and Credit Constraints: Making sense of the U.S. experience
Shifting Credit Standards and the Boom and Bust in U.S. House Prices
When do Better Schools Raise Housing Prices?
A quantitive analysis of the U.S. housing and mortgage markets and foreclosure crisis 
House Price Booms and the Current Account
Fee structure, Financing, and Investment Decisions: The case of REITS
A Repayment Model of House Prices
A q Model of House Prices
Preços de Aquisição de Habitação em Lisboa 1988-1999
Property Taxation, Zoning, and Efficiency: A Dynamic Analysis
Hedonic Price Indexes for Housing
Does prime property always outperform?
US market risk premium used in 2011 by professors, analysist and companies
Forecasting Housing Prices: Dynamic Factor Model versus LBVAR Model
How to Deal with Real Estate Booms: Lessons from Country Experiences
The Evolution of House Price Distribution
Local Residents' Preferences for Second A Home Tourism Development Policies: A Choice Experiment Analysis
WACC: Definition, Misconceptions and Errors
The Expected Real Return to Equity
Subprime Mortgages and the Housing Bubble
Do Residential Property Companies Systematically Adjust
Their Capital Structure? The Case of Germany
Contributions of Economists to the Housing-Price Bubble
L’impact de la littoralisation sur les valeurs foncières et immobilières: une lecture différenciée des marchés agricoles et résidentiels
Low interest rates and housing booms: the role of capital inflows, monetary policy and financial innovation
Leaving home and housing prices. The Experience of Italian youth emancipation
"Fire Sales" in housing market: is the house-searching process similar to a theme park visit?
The Role of Securitization in Mortgage Renegotiation
Liquidity Problems and Early Payment Default Among Subprime Mortgages
The Relationship between Location Choice and Earnings Inequality
Performance Analysis of Brazilian Hedge Funds
CDOs and the Financial Crisis: Credit Ratings and Fair Premia
The effects of land transfer taxes on real estate markets: Evidence from a natural experiment in Toronto
The Effects of Housing Prices and Monetary Policy in a Currency Union
Price and Transaction Volume in the Dutch Housing Market
Foreclosures, house prices, and the real economy
Public and private financing of infrastructure
Real Estate Brokers: Do they inflate housing prices?Yield Curve Analysis: Choosing the Munich Personal RePEc Archive RA optimal maturity date of investments and Fi nancing
Momentum and mean reversion in regional housing markets: Evidence from variance ratio test
Negative Equity Does Not Reduce Homeowners' Mobility
What Drives House Prices in Australia? A Cross-Country Approach
House Prices and Consumption
Are House Prices Rising Too Fast in China?
Mass appraisal of residential apartments: An application of Random forest for A valuation and a CART-based approach for model diagnostics
Growth in a Time of Debt
A comparison of data mining methods for mass real estate appraisal
House Prices, Sales, and Time on the Market: A Search-Theoretic Framework
House Prices, Sales, and Time on the Market: A Search-Theoretic Framework (Supplementary material)
The Performance of UK Securitized Subprime Mortgage Debt: `Idiosyncratic' Behaviour or Mortgage Design
Estimating Estate-Specific Price-to-Rent Ratios in
Shanghai and Shenzhen: A Bayesian Approach

Is There a Bubble in the Chinese Housing Market?
Mortgage Choices and Housing Speculation
A History of Housing Prices in Australia 1880-2010
Housing Markets and the Financial Crisis of 2007-2009: Lessons for the Future
Predicting the Geography of House Prices
The Role of Listed Real Estate in an Income Portfolio
Does prime property always outperform?
Real Estate Trends: State of the CMBS MarketListed Property Performance as a Predictor of Direct Real Estate Performance
Dubai nancial crisis: causes, bailout and after - a case study
House Prices and Risk Sharing
Land in Europe: prices, taxes and use patterns
Housing Investment: What makes it so volatile? Theory and evidence from OECD Countries
Winners and Losers in House Markets
A Historical Public Debt Database
Managing Housing Bubbles in Regional Economies under EMU: Ireland and Spain
The Art & Science of Hotel Valuation in an Economic Downturn
Credit Bubbles and Land Bubbles
Revealing a Housing Bubble in a Standard Economic Model
Asset Prices, Credit Growth, Monetary and Other Policies: An Australian Case Study
A proposal to repair the US mortgage mess
The Hedonic Price Method in Real Estate and Housing Market Research: A Review of the Literature
The Effects of the Financial Crisis on Private Pension Plans
Correlation of Mortgage Rates With Real Housing Price
Housing Price Dynamics in Time and Space: Predictability, Liquidity and Investor Returns
The impact of high and growing government debt on economic growth an empirical investigation for the euro area
Cost of Capital, Cost of Equity and Value without Circularity for Constant Growth Perpetuities
Cost of Capital with Levered Cost of Equity as the Risk of Tax Shields
Cost of Equity and WACC for Perpetuities with Constant Growth
Predictability of Asset Returns and the Efficient Market
Modelling and Forecasting UK Mortgage Arrears and Possessions
How housing slumps end
The low-interest-rate trap
House Prices and Risk Sharing
House Prices, Bubbles and City Size
Can interest rates explain the US housing boom and bust?
Credit Bubbles and Land Bubbles
Exit options for opportunistic real estate investors and
their potential effects on real estate markets: German evidence 
Hotel Investments in Germany: Influencing Factors on the Transactions of Hotel Properties
Influence Factors on the Performance of Direct Property Investments 
Explaining Regional Variation in Equilibrium Real Estate Prices and Income
Relative House Price Dynamics Across Euro Area and US Cities - Convergence ou Divergence? 
The Impact of Inflation and Vacancy of Real Estate Returns
The Economic Effects of Replacing the Property Tax with a Sales or Income Tax: A Computable General Equilibrium Approach
The Effects of the Real Estate Bust on Renter Perceptions of Homeownership
The destination of home equity extracted by US households during the recent housing boom
Prime Property Institutions for a Subprime Era: Exploring Innovative Models of Residential Development and Finance
Optimal Capital Income Taxation with housing
Return on Capital (ROC), Return on Invested Capital (ROIC)and Return on Equity (ROE): Measurement and Implications
Valuation Approaches and Metrics: A Survey of the Theory
and Evidence
What is the riskfree rate? A Search for the Basic Building Block
A Structural Model for Capitalization Rate
Diferences in Quality of Life Estimates Using Rents and Home Values
Evaluating household expenditures and their relationship with house prices at the microeconomic level
The Role of Construction in the Housing Boom and Bust in Spain
Predicting the Geography of House Prices
Should the Central Bank Be Concerned About Housing Prices?
Household debt, house prices and consumption in the United Kingdom: a quantitative theoretical analysis
A Volatilidade Histórica enquanto Indicador de Risco nos Fundos de Investimento
Homeowner made Housing Price Bubbles
Subprime Mortgage Lending in New York City: Prevalence and Performance
Three Cycles: Housing, Credit, and Real Activity
Asset Booms and Structural Fiscal Positions: The Case of Ireland
Forecasting the Yield Curve in a Data-Rich Environment using the Factor-Augmented Nelson-Siegel Model
Forecasting the US Real House Price Index: Structural and Non-Structural Models with and without Fundamentals
Home Prices and the Labor Market
A Bird's Eye View of OECD Housing Markets
The Decomposition of a House Price index into Land and Structures Components: A Hedonic Regression Approach
The Eurozone debt crisis: Facts and myths
Bubbles in Asset Prices
Custos Imobiliários: A Aplicação dos Conceitos do Ciclo de Vida
The Homeownership Gap
Arbitrage Pricing Theory: Evidence from an Emerging Stock Market
Modelling and forecasting volatility of East Asian Newly Industrialized Countries and Japan stock markets with non-linear models
Probabilities of Positive Returns and Values of Call
Debts on Debts
Asian Sovereign Debt and Country Risk Return
Housing and Debt Over the Life Cycle and Over the Business Cycle
Mortgage Indebtedness and Household Financial Distress 
House Prices
Títulos pouco fiáveis 
Housing and Stock Markets: 2009 Analysis, 2010 Forecast 
A Long Run House Price Index: The Herengrach Index, 1628-1973
L’andamento del mercato immobiliare italiano e i riflessi sul sistema finanziario
Forecasting the US Real House Price Index
Systematic risk of CDOs and CDO arbitrage 
Equity and debt in a financialised economy: the French case
A decomposition formula for option prices in the Heston model and applications to option pricing approximation 
The role of financial variables in Predicting economic activity
Decomposing the Foreclosure Crisis: House Price Depreciation versus Bad Underwriting
Quality Gets the Upper Hand as the Commercial Real Estate Market Bifurcates
Listed Property Performance as a predictor of direct real estate performance
Changing Households’ Investments and Aspirations through Social Interactions
Can a Market-Assisted Land Redistribution Program Improve the Lives of the Poor?
Post-Bubble Markets: The Great Depression vs. Home Prices
Signals from Housing and Lending Booms
A Second Sub-prime Bubble Approaching?
Simple explanations for global financial instability and the cure: Keep it simple
How well do individuals predict the selling prices of their homes?
The (mythical?) housing wealth effect
Buying land in developing nations: Challenges and promises
Boom and Busts in Housing Markets: Determinants and Implications
Housing Bubble, The Sequel
As lições que ficaram por aprender com a bolha imobiliária
Financial globalisation and securitisation in mortgage markets
Voting twice: A new approach to the limitation of government debt accumulation
Shifting wealth: Is the US dollar Empire falling?
Bad bank(s) and recapitalisation of the banking sector
Why is Japan so heavily affected by the global economic crisis?
Global imbalances and the accumulation of risk
How should we make economic forecasts?
Too much capital, not enough safety?
Meeting Multifamily Housing Finance Needs During and After The Credit Crisis: A Policy BriefThe wonderful world of negative nominal interest rates, again
A Pick Up in Housing Starts Will Only Prolong the Housing Recession
Financial Institutions and Markets across Countries and over Time - Data and Analysis
From Bear Stearns to Anglo Irish: How Eurozone Sovereign Spreads Related to Financial Sector Vulnerability
Free Fall in Hotel Valuations to Hit Bottom in 2010
Get Ready for Inflation and Soaring Interest Rates 
Monetary Policy Is Loose, Yield Curve Steep, Waters Uncharted
Why did the bankers behave so badly?
Crises in the banking sector and attempts to refinance
Federal U.S. Debt Has Ballooned to Over $100 Trillion!
ETFs & Diversification: A Study Of Correlations
Um balanço das crises dos últimos 30 anos - diário de bordo 14
The credit crunch of 1294: Causes, consequences and the aftermath
National Bankruptcy? Not Quite Yet
Housing: Playing Games with Appraisals and Value 
Deep Property Depreciation Ahead 
Rising Long-Term Interest Rates Go Hand in Hand with the Expanding Economy
Optimal Devaluations
Soaring Debt + Fed Monetization = Higher Interest Rates
Banking during the Great Depression: The good news
Green shoot or dead twig: Can unemployment claims predict the end of the American recession?
How similar is the current crisis to the Great Depression?
7 Steps to Fix the Housing Crisis 
A Revolução de Bernanke na Fed
Banks Seeking Short Sale Deficiencies
Gold vs. Housing: 80 Years of U.K. Data 
Muni-Treasury Relationship Trouble
Distressed Properties and Property Values - What You Need to Know to Profit in the Current Real Estate Market
The Fed Needs to Make a Policy Statement
Halfway to Recovery
First Signs of Recovery Will Be in Housing
Why Housing Is Not Coming Back
Banks, Home Prices, Home Sales Are 'Just Fine' 
Does Higher Openness Cause More Real Exchange Rate Volatility? 
Multilateral Debt Relief through the Eyes of Financial Markets
Mark-to-Market vs. Mark-to-Model: What Ever Happened to Real Value?

Apresentações & Case Studies

20 Countries Where Home Prices Are Rising
2009's Most Active Global Real Estate Markets
25 anos de esforço do Orçamento do Estado com a habitação
A Competitividade da Economia Portuguesa, CGD, Jul 2011
A Competitividade de Lisboa na Europa, IPD Portugal, Jun 12
A Crise Imobiliária e o Sector Financeiro - Prof. José Luis Suárez, 2013
A Importância da Avaliação nas Decisões de Investimento - Prime Yield, May, 2010
Acesso à Habitação e Problemas Residenciais dos Emigrantes em Portugal
Análise Sucinta dos Fundos de Investimento Imobiliário no Mercado Habitacional Português - IHRU - 2010
Annual Review 2009/2010 - C&W
Annual Review 2011 - C&W
Anuário de Finanças Estruturadas - UBQAR, 2011
Apresentação de Perspectivas Económicas em Portugal, Apr, 2011, João César das Neves, IPD
Apresentação Out of the Box
Avaliação Quartel da Graça
Balanço Anual dos Fundos Imobiliários, Brasil, 2010
Caracterização da Habitação Social em Portugal, INE, Jul, 2010
CBRE - Barómetro do Investidor - 1º Sem 2011
China Real Estate Investment
Como se calcula quanto dinheiro Portugal precisa
Comportamento do Consumidor de Baixa Renda - Organizzare Consulting - Feb, 2009
Compromisso para a Competitividade Sustentável do Sector da Construção e Imobiliário
Confidencial Imobiliário - Jun, 2009
Crédito à Habitação - Banco de Portugal
Deloitte - REITs and infrastructure projects, the next investment frontier? - Mar 2010
Direitos e Deveres de um Proprietário - AT 2014
Discussion on Monetary Policy and Housing Prices in and Estimated DSGE Model for the US and the Euro Area - ECB, Feb, 2010
Estratégias para Ultrapassar a Crise no Sector Imobiliário - Vida Imobiliária, Dec, 2008
Estudo de Migração de Empresas, Jun 12, Aguirre Newman
Estudo de Opinião sobre o Mercado de Investimento Imobiliário Português, IPD, Set 12
Estudo do Mercado Imobiliário de Aveiro - Universidade de Aveiro
European Housing Review 2011, RICS
Evolução Recente do Mercado Imobiliário no Brasil
Fannie Mae - National Housing Survey
Fiscalidade no Sector da Construção
Flow of Funds Accounts of the United States
Fundos de Investimento Imobiliário - Brasil e Portugal
Fundos de Investimento Imobiliário em Angola - António Raposo Subtil
Fundos de Investimento Imobiliário no Brasil
Hypostat 2010 - A review of Europe’s mortgage and housing markets
IFA - REITA Results - Apr, 2009
IGCP - Portugal, Moving Ahead - Jan 2013
Incentivos à Reabilitação Urbana - PARES Advogados - Jul 12
Incentivos à Reabilitação Urbana - Garrigues - Jul 13
Índice Imobiliário Anual Português IPD 2011 e Índice APFIPP/ IPD de Fundos de Investimento Imobiliário Portugueses
International Investment Atlas 2010 - C&W
Investimento e Financiamento Imobiliário - Hotel Zenit, Nov 2009
Investing in (social) housing, fact or fiction? The Dutch case
IPD - Índice Imobiliário Anual Português - 2011
IPD - Índice Imobiliário Anual Português 2010
IPE European Institutional Asset Management 2010 Survey - Jun, 2010
Jessica Evaluation Study for Portugal
Kingdom of Spain - Economic Policy and 2010 Funding Strategy - Feb, 2010
Lease Accounting - Novas normas de contabilização dos arrendamentos - Jorge Figueiredo, PWC
Mercado de escritórios em Portugal – actualidade e expectativas - Mariana Seabra, JLL
Mercado Social de Arrendamento
Mercado Imobiliário, Reabilitação Urbana e Novo Regime de Arrendamento - Fernando Santo
Normas de Avaliação RICS
O Enquadramento Legal do Arrendamento Urbano e o Mercado de Arrendamento - AICE
O Estado dos Fundos de Investimento Imobiliário em Portugal - Jones LangLasalle
O Mercado Imobiliário Angolano - Soares da Costa, May, 2010
OCDE Economic Survey - Portugal, Sep. 2010
Oportunidades de financiamento JESSICA
Optimização de instalações para aumentar produtividade e reduzir custos das empresas - Carlos Cardoso, JLL
Optimizing Risk and Return in Pension Fund Real Estate
O Sector da Construção e Imobiliário em Portugal, Mar 2015, Montepio
Perspectivas de Evolução da Economia Portuguesa em 2011-2012 - Augusto Mateus
Plano Estratégico Nacional para o Turismo 2013-2015 - Turismo de Portugal
Portugal - Actual Market Conditions in Turbulent Times - Vida Imobiliária, Dec, 2008
Prémios Valmor
Reabilitação - Um Novo Paradigma para a Construção - UBI
Real Estate Investment Management 2020 and Beyond
Real Estate or Equities? - International Real Estate Business School - Dec, 2009
REIT's em Portugal - Vida Imobiliária, Dec, 2009
Relatório do Programa de Gestão do Património Imobiliário do Estado - 1º Sem, 2010
Relatório de Progresso da Lei das Rendas - 1º Trim 13
Residencial Economic Report
Resorts Trends 2011
S&P Case Shiller - 2009, A Year in Review
Securitização e Financiamento Imobiliário - 2011