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Housing and Business Cycle

Author

Listed:
  • Ismael Fernández
  • Paloma Taltavull de La Paz

Abstract

Housing investment is one of the component with more volatility inside the business cycle. This is a relationship showed but not demonstrated in Spanish economy. This paper try to deep in this way finding an econometric link explaining how housing construction is connected with the economic evolution in Spain as well as the lags existing between them. We use cointegration technique and error correction model to find time lags and give some economics explanations that show how Spanish housing market works and clear.

Suggested Citation

  • Ismael Fernández & Paloma Taltavull de La Paz, 2001. "Housing and Business Cycle," ERES eres2001_161, European Real Estate Society (ERES).
  • Handle: RePEc:arz:wpaper:eres2001_161
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    File URL: https://eres.architexturez.net/doc/oai-eres-id-eres2001-161
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    More about this item

    JEL classification:

    • R3 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location

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