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Although the close empirical relationship between the evolution of mortgage lending and housing prices is well … cointegration techniques in order to address this issue empirically for the Greek economy. Our results, based on a cointegration … relationship that we identify as a mortgage loan demand equation, indicate that housing prices do not adjust to disequilibria in …
Persistent link: https://www.econbiz.de/10013404685
Although the close empirical relationship between the evolution of mortgage lending and housing prices is well … cointegration techniques in order to address this issue empirically for the Greek economy. Our results, based on a cointegration … relationship that we identify as a mortgage loan demand equation, indicate that housing prices do not adjust to disequilibria in …
Persistent link: https://www.econbiz.de/10014206279
This paper aims to estimate a long-term equilibrium price level for the Hungarian housing market by identifying key underlying macroeconomic factors. For this, in line with the empirical literature, a vector error correction model is employed. The housing market price level is mapped by the...
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In many countries, house price fluctuations which have been witnessed by the several booms and busts over the past two decades have been associated with financial instability. The degree to which such house price booms and busts have led to financial instability differs among countries because...
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