House Prices and Current Account Evolution in the European Union: An Intertemporal Approach

Irina-Marilena Ban

Eastern European Economics, 2018, vol. 56, issue 5, 358-381

Abstract: Based on the dynamic equation of the intertemporal current account model, we estimated a current account balance between 2000 and 2014 for the EU countries due to the role played by different determinants. More precisely, we presented the effect of fiscal balance and house prices along with other variables for the purpose of explaining the external disequilbria among the member states. Our results indicate that the last real estate bubble has worsened the external imbalances of the members within the European Union. We also identified an asymmetric effect of real estate prices upon the current account of various countries within the European Union.

Date: 2018
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DOI: 10.1080/00128775.2018.1482769

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