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Determinants Of Fluctuations In House-Building In Denmark 1880–1940

In: The Economic Problems Of Housing

Author

Listed:
  • E. Hoffmeyer

    (Danmarks National bank)

  • K. Mordhorst

    (Danmarks National bank)

Abstract

During the inter-war period it became gradually accepted by most Danish economists and politicians that house-building is very sensitive to short-run variations in the long-term interest rate. The introduction of this view was probably mainly due to two circumstances: one was the heavy building crisis in 1907–8 accompanied by bank failures and shortage of money; another was the impact of Wicksell’s theories on Danish economists. Since then it has been accepted almost as a matter of fact that house-building must be influenced strongly by short-term fluctuations in the long-term interest rate. Reference is mostly made to theoretical considerations—investment calculations in durable equipment—and rarely to thorough empirical investigations.

Suggested Citation

  • E. Hoffmeyer & K. Mordhorst, 1967. "Determinants Of Fluctuations In House-Building In Denmark 1880–1940," International Economic Association Series, in: Adela Adam Nevitt (ed.), The Economic Problems Of Housing, chapter 0, pages 92-104, Palgrave Macmillan.
    • Handle: RePEc:pal:intecp:978-1-349-08473-9_8
    DOI: 10.1007/978-1-349-08473-9_8
    as

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