Dynamic Comovements Between Housing and Oil Markets in the US over 1859 to 2013: a Note
Rangan Gupta () and
John Weirstrasd Muteba Mwamba ()
Atlantic Economic Journal, 2016, vol. 44, issue 3, 377-386
Abstract In this study, we examine the dynamic comovements between housing and oil market returns in the United States over the period 1859–2013, while controlling for real gross domestic product growth, inflation, interest rates, and real stock, gold and silver returns that are known to affect both these markets. As such, we provide a bird’s-eye view on the interdependencies between these two markets from a historical perspective. The results of our empirical analysis reveal that comovements between housing and oil market returns are consistently negative over time, apart from several recessions the U.S. economy experienced in the 19th century, wherein correlations were positive.
Keywords: Housing market; Oil market; Dynamic comovements (search for similar items in EconPapers)
JEL-codes: C32 E60 E66 G10 (search for similar items in EconPapers)
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Working Paper: Dynamic Comovements between Housing and Oil Markets in the US over 1859 to 2013: A Note (2015)
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