This paper investigates the existence of significant spillovers from the housing sector onto the wider economy for the seven major OECD countries using Uhlig's (2005) agnostic identification procedure. This method allows a housing demand shock to be identified in a six-variable VAR model by...

This paper investigates the existence of significant spillovers from the housing sector onto the wider economy for the seven major OECD countries using Uhlig's (2005) agnostic identification procedure. This method allows a housing demand shock to be identified in a six-variable VAR model by...

This paper investigates the existence of significant spillovers from the housing sector onto the wider economy for eight OECD countries in a six-variable structural vector autoregressive model (SVAR). A housing demand shock is identified through the recursive Choleski decompostion and,...