Gimeno, Ricardo; Martínez-Carrascal, Carmen - In: Journal of Banking & Finance 34 (2010) 8, pp. 1849-1855
This paper looks at recent developments in house purchase loans and house prices in Spain and the linkages between them. It aims at identifying deviations of these variables from their equilibrium levels, and for this purpose, we estimate a vector error-correction model. The results show that...