Gerdesmeier, Dieter; Reimers, Hans-Eggert; Roffia, Barbara - Fachbereich Wirtschaft, Hochschule Wismar - 2015
This paper models the relationship between consumer and asset prices (approximated by house prices, oil prices and the exchange rate) by means of a Markov Switching model (MS model). It can be shown that house prices appear to play a significant role in the determination of consumer prices in a...