The correlation across US states in house price growth increased steadily between 1976 and 2000. This paper shows that … state pairs and document that house price growth correlation is strongly related to this measure of financial integration …. Our IV estimates suggest that banking integration can explain up to one fourth of the rise in house price correlation over …

variables eliminates the serial correlation after q lags. Importantly, maximum likelihood estimation and likelihood ratio …This paper investigates whether codependence restrictions can be uniquely imposed on VAR and VEC models via the so …