Emirmahmutoglu, Furkan; Balcilar, Mehmet; Apergis, Nicholas - Department of Economics, Faculty of Economic and … - 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...