Estimating the causal relationship between foreclosures and unemployment during the great recession

Ghulam Awais Rana and Paul Shea ()

Economics Letters, 2015, vol. 134, issue C, 90-93

Abstract: Using a local projection method, we estimate the relationship among unemployment, foreclosures, and housing prices. More foreclosures cause a major increase in unemployment and a large decrease in housing prices. Higher housing prices, however, have only small effects on unemployment and foreclosures.

Keywords: Housing; Local projection; Foreclosures; US state data (search for similar items in EconPapers)
JEL-codes: C32 C33 E32 E51 (search for similar items in EconPapers)
Date: 2015
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Citations: View citations in EconPapers (4)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:134:y:2015:i:c:p:90-93

DOI: 10.1016/j.econlet.2015.06.019

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