We analyse the evolution and main drivers of residential investment, using a panel with quarterly data for 15 advanced economies since the 1970s. Residential investment is a notably volatile component of real GDP in all countries in the sample. We find real house price growth, net migration...

We analyze the evolution and main drivers of residential investment in 15 advanced economies using a large panel with quarterly data since the 1970s. Residential investment is a notably volatile component of real GDP in all countries in the sample. Real house price growth, net migration inflows,...