This paper investigates the dynamic interactions among securitized property markets, stock markets and key macroeconomic factors for ten developed nations throughout North America, Europe, Australia, and Asia. The results indicate that each property market is co-integrated with its respective...

Casual empiricism suggests that unwarrantedʺ wage changes, defined as the part of wage growth that is not explained by changes in labour productivity, are negatively associated with the return on capital. The main point of this paper is to show that unwarrantedʺ wage changes have no causal...