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On the Macroeconomic Determinants of the Housing Market in Greece: A VECM Approach

Panagiotidis, Theodore (2015) On the Macroeconomic Determinants of the Housing Market in Greece: A VECM Approach. ["eprint_fieldopt_monograph_type_technicalreport" not defined]. UNSPECIFIED.

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Abstract

This study examines the role of the housing market in the Greek economy. We review the literature and assess the interdependence between the housing price index and its macroeconomic determinants within a VECM framework. An equilibrium relationship exists and in the long run the retail sector and mortgage loans emerge as the most important variables for housing. The dynamic analysis shows that the mortgage loans followed by retail trade are the variables with the most explanatory power for the variation of the houses price index.

Item Type: Monograph (["eprint_fieldopt_monograph_type_technicalreport" not defined])
Uncontrolled Keywords: Housing Market \xB7 Greece \xB7 VECM \xB7 impulse response function Granger causality
Depositing User: Admin Admin
Date Deposited: 13 Oct 2015 17:57
Last Modified: 13 Oct 2015 17:57
URI: http://eprints.lib.uom.gr/id/eprint/546

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