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Title: On the macroeconomic determinants of the housing market in Greece: a VECM approach
Authors: Panagiotidis, Theodore
Printzis, Panagiotis
Type: Article
Subjects: FRASCATI::Social sciences::Economics and Business::Economics
Keywords: Housing market
Impulse response function
Granger causality
Issue Date: Jul-2016
Source: International Economics and Economic Policy
Volume: 13
Issue: 3
First Page: 387
Last Page: 409
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.
Other Identifiers: 10.1007/s10368-016-0345-3
Appears in Collections:Department of Economics

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