Emirmahmutoglu, Furkan; Apergis, Nicholas; Simo-Kengne, … - Institut de Préparation à l'Administration et à la … - 2014
This paper investigates the causal relationship between asset prices and per capita output across 50 US states and the District of Columbia over 1975 to 2012. A bootstrap panel Granger causality approach is applied on a trivariate VAR comprising of real house prices, real stock prices and real...