| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP5632 |
| DP5632 Interpreting Euro Area Inflation at High and Low Frequencies | |
| Stefan Gerlach; Katrin Assenmacher-Wesche | |
| 发表日期 | 2006-04-11 |
| 出版年 | 2006 |
| 语种 | 英语 |
| 摘要 | This paper investigates the bubbles hypothesis with a dynamic panel data model of British regional house prices between 1972 and 2003. The model consists of a system of inverted housing demand equations, incorporating spatial interactions and lags and relevant spatial parameter heterogeneity. The results are data consistent, with plausible long-run solutions and include a full range of explanatory variables. Novel features of the model include transaction cost effects influencing the speed of adjustment, and interaction effects between an index of credit availability and real and nominal interest rates. No evidence for a recent bubble is found. |
| 主题 | International Macroeconomics |
| 关键词 | Bubble Ripple effect House prices |
| URL | https://cepr.org/publications/dp5632 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/534476 |
| 推荐引用方式 GB/T 7714 | Stefan Gerlach,Katrin Assenmacher-Wesche. DP5632 Interpreting Euro Area Inflation at High and Low Frequencies. 2006. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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