Housing Prices and Macroeconomic Factors: A Global Perspective

Serkan Çankaya
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Serkan Çankaya: İstanbul Commerce University

Journal of Finance Letters (Maliye ve Finans Yazıları), 2013, vol. 28, issue 100, 143-154

Abstract: This study examines the relationship of Housing Price Indices of 75 countries located in different regions on selected macroeconomic variables by using panel ordinary least squares (OLS) method. The conducted analysis shows us that there is a statistically significant positive relationship among Housing Price Index (HPI) and annual lending rate (ALR), annual personal disposable income (PDI) and gross domestic product (GDP) however there is a negative relationship between employment (E) and population (P). When the countries in the sample are examined under five regional subsamples the results differ significantly. Particularly the results for Eastern Europe diverge from the global sample.

Keywords: Housing Price Indices; Macroeconomic factors; Panel data analysis (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:acc:malfin:v:28:y:2013:i:100:p:143-154

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