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Commercial real estate in the euro area: macroeconomic or idiosyncratic shocks?
[L'immobilier commercial en zone euro, chocs macroéconomiques ou idiosyncrasiques ?]

Author

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  • Aurélien Espic

Abstract

Les progrès récents de l'inclusion financière en Afrique subsaharienne, et Commercial real estate prices are an important driver of business investment. This post quantifies the role of macroeconomic, financial and idiosyncratic factors in commercial real estate price dynamics in the euro area. Over the entire period studied, commercial real estate appears to have been a channel of transmission of macroeconomic and financial shocks, especially since 2015. Les prix de l'immobilier commercial constituent un déterminant important de l'investissement des entreprises. Ce billet quantifie le rà´le des facteurs macroéconomiques, financiers et idiosyncrasiques dans la dynamique des prix de l'immobilier commercial en zone euro. Sur l'ensemble de la période étudiée, l'immobilier commercial apparait comme un canal de transmission des chocs macroéconomiques et financiers, et en particulier depuis 2015.

Suggested Citation

  • Aurélien Espic, . "Commercial real estate in the euro area: macroeconomic or idiosyncratic shocks? [L'immobilier commercial en zone euro, chocs macroéconomiques ou idiosyncrasiques ?]," Eco Notepad (in progress), Banque de France.
    • Handle: RePEc:bfr:econot:392
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    File URL: https://www.banque-france.fr/fr/publications-et-statistiques/publications/limmobilier-commercial-en-zone-euro-chocs-macroeconomiques-ou-idiosyncrasiques
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