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- W3123096105 abstract "Recent episodes of housing bubbles, which occurred in several economies after the burst of the United States housing market, suggest studying the evolution of housing prices from a global perspective. We utilize a theoretical model for the purposes of this contribution, which identifies the main drivers of housing price appreciation — for example, income, residential investment, financial elements, fiscal policy, and demographics. In the second stage of our analysis, we test our theoretical hypothesis by means of a sample of 18 Organisation for Economic Co-operation and Development (OECD) countries from 1970 to 2011. We employ the vector error correction econometric technique in terms of our empirical analysis. This allows us to model the long-run equilibrium relationship and the short-run dynamics, which also helps to account for endogeneity and reverse-causality problems." @default.
- W3123096105 created "2021-02-01" @default.
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- W3123096105 date "2013-01-01" @default.
- W3123096105 modified "2023-10-16" @default.
- W3123096105 title "Modeling the Housing Market in OECD Countries" @default.
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- W3123096105 doi "https://doi.org/10.2139/ssrn.2263445" @default.
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