The Impact of Recent Crisis on the Real Estate Market on the UAE: Evidence from Asymmetric Methods

Safa Al-Mohana and Abdulnasser Hatemi-J
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Safa Al-Mohana: College of Business and Economics, UAE University, Al Ain, UAE

Economia Internazionale / International Economics, 2016, vol. 69, issue 4, 389-428

Abstract: We explore empirically the impact of the world real estate crisis on the UAE real estate market. We consider the Global Financial Crisis (GFC) in our investigation. Besides the asymmetric causality test methods we also use recently developed asymmetric generalized impulse response functions and variance decompositions, which separate the effect of positive shocks from those of negative ones. The empirical results that this paper provides can be very informative and useful for both investors and policy makers. L’impatto della recente crisi sul mercato immobiliare degli Emirati Arabi Uniti: evidenze da metodi asimmetrici Questo studio analizza empiricamente l’impatto della crisi del mercato immobiliare mondiale – nel contesto della crisi finanziaria globale – sul mercato immobiliare degli Emirati Arabi. Oltre ai test di causalità asimmetrici, abbiamo anche sviluppato funzioni asimmetriche con risposta generalizzata ad impulso e decomposizioni di varianza, le quali separano gli effetti degli shock positivi da quelli degli shock negativi. I risultati empirici di questo studio possono essere molto informativi ed utili sia agli investitori che ai policy maker.

Keywords: Asymmetric Impacts; Real Estate Markets; Crisis; UAE (search for similar items in EconPapers)
JEL-codes: C32 F16 G15 (search for similar items in EconPapers)
Date: 2016
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Citations: View citations in EconPapers (1)

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