Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/168348
Authors: 
Guo, Zi-Yi
Year of Publication: 
2017
Citation: 
[Journal:] Global Conference on Business and Finance Proceedings [ISSN:] 1941-9589 [Volume:] 12 [Issue:] 2 [Pages:] 46-53
Abstract: 
The recent financial crisis has witnessed the importance of the housing markets in macroeconomic fluctuations. We investigate the correlation between housing dynamics and the business cycle for a variety of countries. Our empirical results confirm the two daunting facts faced by lots of macroeconomic modelers: (i) house prices are highly volatile and closely correlated with the business cycle, which is at odds with the evidence that rental prices are relatively stable and almost uncorrelated with the business cycle; and (ii) residential investment leads the business cycle while nonresidential investment moves contemporaneously with the business cycle.
Document Type: 
Article

Files in This Item:
File
Size





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.