Commodity House Prices *
| Title: | Commodity House Prices * |
|---|---|
| Authors: | Charles Ka; Yui Leung; Song Shi; Edward Tang; Jel Codes F; Especially Nan-kuang Chen; Xu Han; Dan Mcmillen; Peng Wang |
| Contributors: | The Pennsylvania State University CiteSeerX Archives |
| Source: | http://www.dallasfed.org/assets/documents/institute/wpapers/2013/0154.pdf. |
| Publication Year: | 2013 |
| Collection: | CiteSeerX |
| Description: | This paper studies how commodity price movements have affected local house prices in commodity-dependent economies, Australia and New Zealand. We build a geographically hierarchical empirical model and find that commodity prices influence local house prices directly and also indirectly through macroeconomic variables. While commodity price changes function more like “income shocks ” rather than “cost shocks ” in both Australia and New Zealand, regional heterogeneity is also observed in terms of differential dynamic responses of local house prices to energy versus non-energy commodity price movements. The results are robust to alternative approaches. Directions for future research are also discussed. |
| Document Type: | text |
| File Description: | application/pdf |
| Language: | English |
| Relation: | http://citeseerx.ist.psu.edu/viewdoc/summary?doi=10.1.1.411.1274; http://www.dallasfed.org/assets/documents/institute/wpapers/2013/0154.pdf |
| Availability: | http://citeseerx.ist.psu.edu/viewdoc/summary?doi=10.1.1.411.1274; http://www.dallasfed.org/assets/documents/institute/wpapers/2013/0154.pdf |
| Rights: | Metadata may be used without restrictions as long as the oai identifier remains attached to it. |
| Accession Number: | edsbas.B531DFD8 |
| Database: | BASE |