Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/47300 
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dc.contributor.authorAnundsen, André K.en
dc.contributor.authorJansen, Eilev S.en
dc.date.accessioned2011-07-01T08:42:51Z-
dc.date.available2011-07-01T08:42:51Z-
dc.date.issued2011-
dc.identifier.urihttp://hdl.handle.net/10419/47300-
dc.description.abstractThe interaction between housing prices and household borrowing in Norway is estimated in a simultaneous setting in the long and the short run.The long run dependence is analyzed within a cointegrated vector autoregression in real housing prices, real disposable household income and real household debt, conditioning on the real after tax interest rate, the number of house transactions and the volume of housing capital. We identify two cointegrating equations which determine equilibrium housing prices and household debt, respectively. The long run equations are embedded in a system of two error-correction equations which is estimated simultaneously. The model yields meaningful short and long term effects when estimated on the sample 1986q2-2008q4 and impulse responses demonstrate that there are selfreinforcing feedback effects between the two variables of interest.en
dc.language.isoengen
dc.publisher|aUniversity of Oslo, Department of Economics |cOsloen
dc.relation.ispartofseries|aMemorandum |x2011,13en
dc.subject.jelC32en
dc.subject.jelC52en
dc.subject.jelE44en
dc.subject.jelG21en
dc.subject.jelG28en
dc.subject.ddc330en
dc.subject.keywordHousing pricesen
dc.subject.keywordhousehold borrowingen
dc.subject.keywordfinancial acceleratoren
dc.subject.stwImmobilienpreisen
dc.subject.stwPrivate Verschuldungen
dc.subject.stwHaushaltseinkommenen
dc.subject.stwVAR-Modellen
dc.subject.stwNorwegenen
dc.titleSelf-reinforcing effects between housing prices and credit: Evidence from Norway-
dc.typeWorking Paperen
dc.identifier.ppn65555730Xen
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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