caa a22 4500 477129706 CHVBK 20180405111701.0 cr unu---uuuuu 170330e19970701xx s 000 0 eng 10.1023/A:1007745204491 doi (NATIONALLICENCE)springer-10.1023/A:1007745204491 Interactions Between Property and Equity Markets: An Investigation of Linkages in the United Kingdom 1972-1992 [Elektronische Daten] [Colin Lizieri, Stephen Satchell] Two strands of real estate research—that concerned with the relationships between securitized real estate and the underlying market and that dealing with the role of property in the wider economy—rarely are considered together. The paper utilizes the U.K. equity market and property company share data to explore the relationships between real estate and the rest of the economy, using a two-sector analytic model. Causality analysis suggests that the wider economy leads the real estate market in the short term but that, with a longer lag structure, positive real estate returns may point to negative future returns in the rest of the economy. This provides weak confirmatory evidence for theories of capital switching between sectors. Kluwer Academic Publishers, 1997 property companies nationallicence REITs nationallicence equities nationallicence capital switching nationallicence causality testing nationallicence Lizieri Colin Department of Land Management and Development, Faculty of Urban and Regional Studies, University of Reading, Reading, U.K aut Satchell Stephen Faculty of Economics, University of Cambridge and Fellow of Trinity College, Cambridge aut The Journal of Real Estate Finance and Economics Kluwer Academic Publishers 15/1(1997-07-01), 11-26 0895-5638 15:1<11 1997 15 11146 https://doi.org/10.1023/A:1007745204491 text/html Onlinezugriff via DOI 1 research-article jats NATIONALLICENCE 856 40 https://doi.org/10.1023/A:1007745204491 text/html Onlinezugriff via DOI NATIONALLICENCE 700 1- Lizieri Colin Department of Land Management and Development, Faculty of Urban and Regional Studies, University of Reading, Reading, U.K aut NATIONALLICENCE 700 1- Satchell Stephen Faculty of Economics, University of Cambridge and Fellow of Trinity College, Cambridge aut NATIONALLICENCE 773 0- The Journal of Real Estate Finance and Economics Kluwer Academic Publishers 15/1(1997-07-01), 11-26 0895-5638 15:1<11 1997 15 11146 Metadata rights reserved Springer special CC-BY-NC licence nationallicence BK010053 XK010053 XK010000 NATIONALLICENCE NATIONALLICENCE NL-springer