The Dynamics of House Prices and Income in the UK
Author
Abstract
Suggested Citation
Download full text from publisher
References listed on IDEAS
- Badarinza, Cristian & Ramadorai, Tarun, 2018. "Home away from home? Foreign demand and London house prices," Journal of Financial Economics, Elsevier, vol. 130(3), pages 532-555.
- repec:cup:cbooks:9781108422536 is not listed on IDEAS
- Atif Mian & Amir Sufi, 2022.
"Credit Supply and Housing Speculation,"
The Review of Financial Studies, Society for Financial Studies, vol. 35(2), pages 680-719.
- Atif Mian & Amir Sufi, 2018. "Credit Supply and Housing Speculation," NBER Working Papers 24823, National Bureau of Economic Research, Inc.
- Atif Mian & Amir Sufi, 2019. "Credit Supply and Housing Speculation," Working Papers 2019-23, Princeton University. Economics Department..
- W. Miles, 2008. "Boom–Bust Cycles and the Forecasting Performance of Linear and Non-Linear Models of House Prices," The Journal of Real Estate Finance and Economics, Springer, vol. 36(3), pages 249-264, April.
- Mark J. Holmes & Arthur Grimes, 2008. "Is There Long-run Convergence among Regional House Prices in the UK?," Urban Studies, Urban Studies Journal Limited, vol. 45(8), pages 1531-1544, July.
- Edward E. Leamer, 2007.
"Housing is the business cycle,"
Proceedings - Economic Policy Symposium - Jackson Hole, Federal Reserve Bank of Kansas City, pages 149-233.
- Edward E. Leamer, 2007. "Housing IS the Business Cycle," NBER Working Papers 13428, National Bureau of Economic Research, Inc.
- Leung, Charles Ka Yui, 2014.
"Error correction dynamics of house prices: An equilibrium benchmark,"
Journal of Housing Economics, Elsevier, vol. 25(C), pages 75-95.
- Leung, Charles Ka Yui, 2014. "Error Correction Dynamics of House Prices: an Equilibrium Benchmark," MPRA Paper 55654, University Library of Munich, Germany.
- Charles Ka Yui Leung, 2014. "Error correction dynamics of house prices: an equilibrium benchmark," Globalization Institute Working Papers 177, Federal Reserve Bank of Dallas.
- Holly, Sean & Pesaran, M. Hashem & Yamagata, Takashi, 2010.
"A spatio-temporal model of house prices in the USA,"
Journal of Econometrics, Elsevier, vol. 158(1), pages 160-173, September.
- Sean Holly & M. Hashem Pesaran & Takashi Yamagata, 2006. "A Spatio-Temporal Model of House Prices in the US," CESifo Working Paper Series 1826, CESifo.
- Holly, S. & Pesaran, M.H. & Yamagata. T., 2006. "A Spatio-Temporal Model of House Prices in the US," Cambridge Working Papers in Economics 0654, Faculty of Economics, University of Cambridge.
- Holly, Sean & Pesaran, M. Hashem & Yamagata, Takashi, 2006. "A Spatio-Temporal Model of House Prices in the US," IZA Discussion Papers 2338, Institute of Labor Economics (IZA).
- Hamilton, James D, 1989. "A New Approach to the Economic Analysis of Nonstationary Time Series and the Business Cycle," Econometrica, Econometric Society, vol. 57(2), pages 357-384, March.
- Peter Pedroni, 1999.
"Critical Values for Cointegration Tests in Heterogeneous Panels with Multiple Regressors,"
Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 61(S1), pages 653-670, November.
- Peter Pedroni, 1999. "Critical Values for Cointegration Tests in Heterogeneous Panels with Multiple Regressors," Department of Economics Working Papers 2000-02, Department of Economics, Williams College.
- Jan Hatzius, 2008. "Beyond Leveraged Losses: The Balance Sheet Effects of the Home Price Downturn," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 39(2 (Fall)), pages 195-227.
- Mohsen Bahmani-Oskooee & Seyed Hesam Ghodsi, 2016. "Do changes in the fundamentals have symmetric or asymmetric effects on house prices? Evidence from 52 states of the United States of America," Applied Economics, Taylor & Francis Journals, vol. 48(31), pages 2912-2936, July.
- Edward E. Leamer, 2015. "Housing Really Is the Business Cycle: What Survives the Lessons of 2008–09?," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 47(S1), pages 43-50, March.
- Enders, Walter & Granger, Clive W J, 1998.
"Unit-Root Tests and Asymmetric Adjustment with an Example Using the Term Structure of Interest Rates,"
Journal of Business & Economic Statistics, American Statistical Association, vol. 16(3), pages 304-311, July.
- Enders, Walter & Granger, C. W. J., 1998. "Unit Root Tests and Asymmetric Adjustment with an Example Using the Term Structure of Interest Rates," Staff General Research Papers Archive 1388, Iowa State University, Department of Economics.
- Tom Doan, "undated". "RATS programs to replicate Enders/Granger JBES(1998)on threshold unit roots," Statistical Software Components RTZ00054, Boston College Department of Economics.
- John Ashworth & Simon C. Parker, 1997. "Modelling Regional House Prices in the UK," Scottish Journal of Political Economy, Scottish Economic Society, vol. 44(3), pages 225-246, August.
- N. Kundan Kishor & Hardik A. Marfatia, 2017. "The Dynamic Relationship Between Housing Prices and the Macroeconomy: Evidence from OECD Countries," The Journal of Real Estate Finance and Economics, Springer, vol. 54(2), pages 237-268, February.
- Pedroni, Peter, 1999.
"Critical Values for Cointegration Tests in Heterogeneous Panels with Multiple Regressors,"
Oxford Bulletin of Economics and Statistics,
Department of Economics, University of Oxford, vol. 61(0), pages 653-670, Special I.
- Peter Pedroni, 1999. "Critical Values for Cointegration Tests in Heterogeneous Panels with Multiple Regressors," Department of Economics Working Papers 2000-02, Department of Economics, Williams College.
- Holly, Sean & Jones, Natasha, 1997. "House prices since the 1940s: Cointegration, demography and asymmetries," Economic Modelling, Elsevier, vol. 14(4), pages 549-565, October.
- Charles P. Kindleberger & Robert Z. Aliber, 2005. "Manias, Panics and Crashes," Palgrave Macmillan Books, Palgrave Macmillan, edition 0, number 978-0-230-62804-5, September.
- Meen, Geoffrey, 2002. "The Time-Series Behavior of House Prices: A Transatlantic Divide?," Journal of Housing Economics, Elsevier, vol. 11(1), pages 1-23, March.
- Joshua Gallin, 2006. "The Long-Run Relationship between House Prices and Income: Evidence from Local Housing Markets," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 34(3), pages 417-438, September.
- Brooks,Chris, 2019. "Introductory Econometrics for Finance," Cambridge Books, Cambridge University Press, number 9781108436823.
- Katrakilidis, Constantinos & Trachanas, Emmanouil, 2012. "What drives housing price dynamics in Greece: New evidence from asymmetric ARDL cointegration," Economic Modelling, Elsevier, vol. 29(4), pages 1064-1069.
- Malpezzi, Stephen, 1999.
"A Simple Error Correction Model of House Prices,"
Journal of Housing Economics, Elsevier, vol. 8(1), pages 27-62, March.
- Stephen Malpezzi, 1998. "A Simple Error Correction Model of House Prices," Wisconsin-Madison CULER working papers 98-11, University of Wisconsin Center for Urban Land Economic Research.
- Allen, Franklin & Gale, Douglas, 2000. "Bubbles and Crises," Economic Journal, Royal Economic Society, vol. 110(460), pages 236-255, January.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- William Miles, 2020. "The Dynamics of House Prices and Income in the UK," International Real Estate Review, Global Social Science Institute, vol. 23(3), pages 1023-1042.
- Holly, Sean & Pesaran, M. Hashem & Yamagata, Takashi, 2010.
"A spatio-temporal model of house prices in the USA,"
Journal of Econometrics, Elsevier, vol. 158(1), pages 160-173, September.
- Sean Holly & M. Hashem Pesaran & Takashi Yamagata, 2006. "A Spatio-Temporal Model of House Prices in the US," CESifo Working Paper Series 1826, CESifo.
- Holly, Sean & Pesaran, M. Hashem & Yamagata, Takashi, 2006. "A Spatio-Temporal Model of House Prices in the US," IZA Discussion Papers 2338, Institute of Labor Economics (IZA).
- Holly, S. & Pesaran, M.H. & Yamagata. T., 2006. "A Spatio-Temporal Model of House Prices in the US," Cambridge Working Papers in Economics 0654, Faculty of Economics, University of Cambridge.
- Robert Webb & Duncan Watson & Steven Cook, 2021. "Price adjustment in the London housing market," Urban Studies, Urban Studies Journal Limited, vol. 58(1), pages 113-130, January.
- Bahmani-Oskooee, Mohsen & Ghodsi, Seyed Hesam, 2018. "Asymmetric causality between the U.S. housing market and its stock market: Evidence from state level data," The Journal of Economic Asymmetries, Elsevier, vol. 18(C), pages 1-1.
- Steve Cook & Duncan Watson, 2016. "A new perspective on the ripple effect in the UK housing market: Comovement, cyclical subsamples and alternative indices," Urban Studies, Urban Studies Journal Limited, vol. 53(14), pages 3048-3062, November.
- Elias Oikarinen & Steven C. Bourassa & Martin Hoesli & Janne Engblom, 2017.
"Revisiting the House Price-Income Relationship,"
LARES
lares_2017_paper_26, Latin American Real Estate Society (LARES).
- Elias Oikarinen & Steven Bourassa & Martin Hoesli & Janne Engblom, 2017. "Revisiting the House Price-Income Relationship," ERES eres2017_173, European Real Estate Society (ERES).
- Alessandra Canepa & Emilio Zanetti Chini & Huthaifa Alqaralleh, 2022.
"Global Cities and Local Challenges: Booms and Busts in the London Real Estate Market,"
The Journal of Real Estate Finance and Economics, Springer, vol. 64(1), pages 1-29, January.
- Canepa, Alessandra & Zanetti Chini, Emilio & Alqaralleh, Huthaifa, 2020. "Global Cities and Local Challenges: Booms and Busts in the London Real Estate Market," Department of Economics and Statistics Cognetti de Martiis. Working Papers 202011, University of Turin.
- Mohsen Bahmani-Oskooee & Seyed Hesam Ghodsi, 2017. "Asymmetric Causality and Asymmetric Cointegration between Income and House Prices in the United States of America," International Real Estate Review, Global Social Science Institute, vol. 20(2), pages 127-165.
- Alessandra Canepa & Emilio Zanetti Chini & Huthaifa Alqaralleh, 2020. "Global Cities and Local Housing Market Cycles," The Journal of Real Estate Finance and Economics, Springer, vol. 61(4), pages 671-697, November.
- Bahmani-Oskooee, Mohsen & Wu, Tsung-Pao, 2018. "Housing prices and real effective exchange rates in 18 OECD countries: A bootstrap multivariate panel Granger causality," Economic Analysis and Policy, Elsevier, vol. 60(C), pages 119-126.
- Mohsen Bahmani-Oskooee & Seyed Hesam Ghodsi, 2018. "Asymmetric Causality between Unemployment Rate and House Prices in each State of the U.S," International Real Estate Review, Global Social Science Institute, vol. 21(1), pages 71-92.
- repec:eee:joecas:v:18:y:2018:i:c:p:- is not listed on IDEAS
- Engerstam, Sviatlana, 2020. "Macroeconomic determinants of apartment prices in Swedish and German cities," Working Paper Series 20/2, Royal Institute of Technology, Department of Real Estate and Construction Management & Banking and Finance.
- Huayi Yu, 2015. "The spillovers and heterogeneous responses of housing prices: a GVAR analysis of China's 35 major cities," Journal of the Asia Pacific Economy, Taylor & Francis Journals, vol. 20(4), pages 535-558, October.
- Mohsen Bahmani-Oskooee & Seyed Hesam Ghodsi, 2018. "Link between Housing and Stock Markets: Evidence from OECD Using Asymmetry Analysis," International Real Estate Review, Global Social Science Institute, vol. 21(4), pages 447-471.
- Takashi Nagahata & Yumi Saita & Toshitaka Sekine & Towa Tachibana, 2004. "Equilibrium Land Prices of Japanese Prefectures: A Panel Cointegration Analysis," Bank of Japan Working Paper Series 04-E-9, Bank of Japan.
- Kholodilin Konstantin A. & Menz Jan-Oliver & Siliverstovs Boriss, 2010.
"What Drives Housing Prices Down? Evidence from an International Panel,"
Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), De Gruyter, vol. 230(1), pages 59-76, February.
- Konstantin A. Kholodilin & Jan-Oliver Menz & Boriss Siliverstovs, 2007. "What Drives Housing Prices Down?: Evidence from an International Panel," Discussion Papers of DIW Berlin 758, DIW Berlin, German Institute for Economic Research.
- Holly, Sean & Hashem Pesaran, M. & Yamagata, Takashi, 2011.
"The spatial and temporal diffusion of house prices in the UK,"
Journal of Urban Economics, Elsevier, vol. 69(1), pages 2-23, January.
- S Holly & M Hashem Pesaran & T Yamagata, "undated". "Spatial and Temporal Diffusion of House Prices in the UK," Discussion Papers 09/32, Department of Economics, University of York.
- Sean Holly & M. Hashem Pesaran & Takashi Yamagata, 2010. "Spatial and Temporal Diffusion of House Prices in the UK," CESifo Working Paper Series 2913, CESifo.
- Holly, S. & Pesaran, M.H. & Yamagata, T., 2009. "Spatial and Temporal Diffusion of House Prices in the UK," Cambridge Working Papers in Economics 0952, Faculty of Economics, University of Cambridge.
- Holly, Sean & Pesaran, M. Hashem & Yamagata, Takashi, 2010. "Spatial and Temporal Diffusion of House Prices in the UK," IZA Discussion Papers 4694, Institute of Labor Economics (IZA).
- Charles Ka Yui Leung & Edward Chi Ho Tang, 2023.
"The dynamics of the house price‐to‐income ratio: Theory and evidence,"
Contemporary Economic Policy, Western Economic Association International, vol. 41(1), pages 61-78, January.
- Charles Ka Yui Leung & Edward Chi Ho Tang, 2021. "The Dynamics of the House Price-to-Income Ratio: Theory and Evidence," GRU Working Paper Series GRU_2021_005, City University of Hong Kong, Department of Economics and Finance, Global Research Unit.
- Charles Ka Yui Leung & Edward Chi Ho Tang, 2021. "The Dynamics of the House Price-to-Income Ratio: Theory and Evidence," ISER Discussion Paper 1125, Institute of Social and Economic Research, Osaka University.
- Damen, Sven & Vastmans, Frank & Buyst, Erik, 2016. "The effect of mortgage interest deduction and mortgage characteristics on house prices," Journal of Housing Economics, Elsevier, vol. 34(C), pages 15-29.
- Vyacheslav Mikhed & Petr Zemčík, 2009. "Testing for Bubbles in Housing Markets: A Panel Data Approach," The Journal of Real Estate Finance and Economics, Springer, vol. 38(4), pages 366-386, May.
More about this item
Keywords
House Prices; Asset Prices; Bubbles; UK Regions;All these keywords.
JEL classification:
- L85 - Industrial Organization - - Industry Studies: Services - - - Real Estate Services
Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ire:issued:v:23:n:03:2020:p:397-416. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: IRER Graduate Assistant/Webmaster (email available below). General contact details of provider: https://www.gssinst.org/gssinst/index.html .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.