Macro-economic indicators and housing price index in Spain: fresh evidence from FMOLS and DOLS

Ali Raza, Laiba Asif, Turgut Türsoy, Mehdi Seraj and Gül Erkol Bayram

International Journal of Housing Markets and Analysis, 2023, vol. 18, issue 1, 227-248

Abstract: Purpose - This study aims to determine how changes in macroeconomic indicators and the housing prices index (HPI) are related. These factors can cause short-term and long-term changes in the housing market in Spain. Design/methodology/approach - The study used cointegrating regression, fully modified ordinary least squares and dynamic ordinary least squares methodologies. The models are trained using quarterly time series data for these parameters from 2010 to 2022. A comprehensive examination is conducted to explore the relationship between macroeconomic issues and fluctuations in the HPI. Findings - The results indicate statistically significant short-run effects (p

Keywords: Housing price index; Spain stock indices; Fully modified least square; Dynamic least square; Macroeconomic indicators; Housing (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:eme:ijhmap:ijhma-07-2023-0094

DOI: 10.1108/IJHMA-07-2023-0094

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