IDEAS home Printed from https://ideas.repec.org/a/ids/ijbire/v6y2012i4p391-400.html
   My bibliography  Save this article

The regional impact of monetary policy on house prices

Author

Listed:
  • Larry Allen
  • George N. Kenyon
  • Vivek S. Natarajan

Abstract

This paper examines how house prices respond to monetary policy in the nine census regions of the USA. A polynomial distributed lag regression model is estimated for each region. The dependent variable in each equation includes growth for the index of regional house prices. The independent variables include: (1) growth for an index of national house prices; (2) difference between the regional unemployment rate and the national unemployment; (3) the growth in M2. The money stock variable enters each equation as a polynomial distributed lag. Given this specification, regional house prices are positively correlated with money stock growth in some regions, and negatively correlated in others.

Suggested Citation

  • Larry Allen & George N. Kenyon & Vivek S. Natarajan, 2012. "The regional impact of monetary policy on house prices," International Journal of Business Innovation and Research, Inderscience Enterprises Ltd, vol. 6(4), pages 391-400.
    • Handle: RePEc:ids:ijbire:v:6:y:2012:i:4:p:391-400
    as

    Download full text from publisher

    File URL: http://www.inderscience.com/link.php?id=47273
    Download Restriction: Access to full text is restricted to subscribers.
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Corrections

    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:ids:ijbire:v:6:y:2012:i:4:p:391-400. 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.

    We have no bibliographic references for this item. You can help adding them by using 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: Sarah Parker (email available below). General contact details of provider: http://www.inderscience.com/browse/index.php?journalID=203 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.