Do the global stochastic trends drive the real house prices in OECD countries?
Deniz Karaman Örsal ()
Economics Letters, 2014, vol. 123, issue 1, 9-13
This paper demonstrates that in the long-run the main determinants of the real housing prices for a panel dataset comprising the quarterly observations of 12 OECD countries are the real GDP per capita and the real interest rate along with the global stochastic trends.
Keywords: Panel cointegration; Global stochastic trends; Common factors; Rank test; Cross-sectional dependence (search for similar items in EconPapers)
JEL-codes: E39 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:123:y:2014:i:1:p:9-13
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