Do the global stochastic trends drive the real house prices in OECD countries? |
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Authors: | Deniz Dilan Karaman Ö rsal |
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Affiliation: | Leuphana University Lüneburg, Center for Methods and Institute of Economics, Germany |
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Abstract: | This paper demonstrates that in the long-run the main determinants of the real housing prices for a panel dataset comprising the quarterly observations of 12 OECD countries are the real GDP per capita and the real interest rate along with the global stochastic trends. |
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Keywords: | E39 |
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