Dynamic Comovements between Housing and Oil Markets in the US over 1859 to 2013: A Note

Nikolaos Antonakakis, Rangan Gupta and John Weirstrass Muteba Mwamba

No 201579, Working Papers from University of Pretoria, Department of Economics

Abstract: In this study we examine the dynamic comovements between housing and oil market returns in the US over the period 1859-2013, while controlling for real GDP growth, in flation and interest rate 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 US recessions the US economy experienced in the 19th century, wherein correlations are 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)
Pages: 9 pages
Date: 2015-10
New Economics Papers: this item is included in nep-ene, nep-his, nep-mac and nep-ure
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Journal Article: Dynamic Comovements Between Housing and Oil Markets in the US over 1859 to 2013: a Note (2016)
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