Does total-factor productivity drive housing prices? A growth-accounting exercise for four countries

Alessio Moro and Galo Nuño Barrau

Economics Letters, 2012, vol. 115, issue 2, 221-224

Abstract: Housing prices diverge from construction prices after 1997 in four major countries. Besides, total-factor productivity (TFP) differences between construction and the general economy account for the evolution of construction prices in the US and Germany, but not in the UK and Spain.

Keywords: Housing prices; TFP; Growth accounting; Cobb–Douglas assumption (search for similar items in EconPapers)
JEL-codes: E01 E23 E25 E32 (search for similar items in EconPapers)
Date: 2012
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Citations: View citations in EconPapers (10)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:115:y:2012:i:2:p:221-224

DOI: 10.1016/j.econlet.2011.12.038

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