EconPapers    
Economics at your fingertips  
 

Macroeconomic Determinants of Housing Prices: A Cross Country Level Analysis

Sabyasachi Tripathi ()

MPRA Paper from University Library of Munich, Germany

Abstract: The paper investigates the macroeconomic determinants of rising housing prices from a cross country perspective. The random-effect models’ analysis suggests that rent, price-to-income ratio, price-to-rent ratio, urbanization, per-capita GDP, inflation, the share of population aged 15-64, GDP growth rate, broad money, and real exchange rate have a positive and statistically significant effect on real house prices. In contrast, the percentage share of employment in services has a negative effect on real house prices. We suggest that government should adjust macroeconomic policies such as inflation, broad money supply, real exchange rate, urbanization, and employment dynamics to control the real house prices.

Keywords: Real house prices; macroeconomy; random effect models; cross countries (search for similar items in EconPapers)
JEL-codes: C33 E39 E44 (search for similar items in EconPapers)
Date: 2019-11-19
New Economics Papers: this item is included in nep-mac and nep-ure
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed

Downloads: (external link)
https://mpra.ub.uni-muenchen.de/98089/1/MPRA_paper_98089.pdf original version (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:98089

Access Statistics for this paper

More papers in MPRA Paper from University Library of Munich, Germany Ludwigstraße 33, D-80539 Munich, Germany. Contact information at EDIRC.
Bibliographic data for series maintained by Joachim Winter ().

 
Page updated 2020-07-14
Handle: RePEc:pra:mprapa:98089