How does economic policy uncertainty affect prices of housing? Evidence from Germany - Lower Silesian Digital Library

Skip to main menu
Skip to search engine
Skip to content
Skip to footer

How does economic policy uncertainty affect prices of housing? Evidence from Germany

Download

Title: How does economic policy uncertainty affect prices of housing? Evidence from Germany

Creator:

Su, Chi-Wei ; Li, Xin ; Tao, Ran

Description:

Argumenta Oeconomica, 2019, Nr 1 (42), s. 131-153

Abstrakt:

We test the interaction between housing prices and economic policy uncertainty with controlling for the effect of the interest rate in Germany. A bootstrap rolling-window Granger causality test method is utilized for the purpose of detecting their dynamic relationship, since we find significant structural changes across the full-sample of the time series which should be taken into account to avoid estimation errors, and more importantly to get a more instructive conclusion. We find that even in Germany, where house prices are famous for their stability, a strong bilateral Granger causality still exists after controlling for the interest rate of housing loans. Furthermore, we find that though the impact of economic policy uncertainty on housing prices could be positive or negative, it significantly reduces house price volatility, while house price volatility significantly raises economic policy uncertainty, which suggests that the frequently mentioned volatility spillover effect of uncertainty on the housing market is not explanatory. Our results indicate that when the subject is a pillar industry in the national economy, considering only the volatility spillover effect caused by economic policy uncertainty may be one-sided, and the purpose of policy change may be more worthy of consideration

Publisher:

Wydawnictwo Uniwersytetu Ekonomicznego we Wrocławiu

Place of publication:

Date:

Resource Type:

Resource Identifier:

doi:10.15611/aoe.2019.1.06 ; oai:dbc.wroc.pl:68010

Language:

Relation:

Argumenta Oeconomica, 2019, Nr 1 (42)

Rights:

Wszystkie prawa zastrzeżone (Copyright)

Access Rights:

Dla wszystkich w zakresie dozwolonego użytku

Location:

Uniwersytet Ekonomiczny we Wrocławiu

Group publication title:

Argumenta Oeconomica

Subject and keywords:

economic policy uncertainty house prices rolling window bootstrap Granger causality

Object collections:

Last modified:

May 26, 2022

In our library since:

May 23, 2019

Number of object content hits:

772

All available object's versions:

https://dbc.wroc.pl./publication/129838

Show description in RDF format:

Show description in OAI-PMH format:

Argumenta Oeconomica

Edition name	Date
How does economic policy uncertainty affect prices of housing? Evidence from Germany	May 26, 2022

Similar

Argumenta Oeconomica

Argumenta Oeconomica

Does a trade surplus raise the exchange rate exposure? A perspective on Sino-US relations

Su, Chi-Wei Yuan, Xi Tao, Ran Umar, Muhammad Huang, Shi-Wen

2022

artykuł

Argumenta Oeconomica

Argumenta Oeconomica

Purchasing power parity in belt and road initiative countries relative to China

Liu, Lu Tao, Ran Wang, Kai-Hua Su, Chi-Wei

2021

artykuł

Argumenta Oeconomica

Argumenta Oeconomica

Study on the influence of foreign direct investment on innovations in enterprises in Poland using the ECM model

Salamaga, Marcin

2023

artykuł

Ekonometria = Econometrics

Ekonometria = Econometrics

Badanie zależności pomiędzy handlem zagranicznym a PKB z wykorzystaniem modelu VAR oraz przyczynowości Grangera

Pisarski, Marcin

2013

artykuł

Argumenta Oeconomica

Argumenta Oeconomica

The sovereign credit default swap market – is there anything to be afraid of? A comparison of selected central and western european economies

Kliber, Agata

2019

artykuł

Argumenta Oeconomica

Argumenta Oeconomica

Insurance market development and economic growth in transition countries: some new evidence based on the bootstrap panel granger causality test

Wanat, Stanisław Papież, Monika Śmiech, Sławomir

2019

artykuł

Financial Sciences. Nauki o Finansach

Financial Sciences. Nauki o Finansach

Causality analysis between stock market indices

Sekuła, Paweł

2019

artykuł

Operations Research and Decisions

Operations Research and Decisions

The impact of regional disparities on economic growth

Gurgul, Henryk Lach, Łukasz Mercik, Jacek Wiesław. Redakcja Ostasiewicz, Walenty. Redakcja

2011

artykuł

More

Citation style:

Chicago ISO690 APA IEEE Harvard

Contact details

Address

Wrocław University of Science and Technology (Coordinator)
Library of Wrocław University of Science and Technology
Wybrzeże Wyspiańskiego 27
50-370 Wrocław, Poland

Phone

(+48) 71-320-38-30
(+48) 71-320-47-50

E-Mail

Visit us!

https://biblioteka.pwr.edu.pl/

This page uses 'cookies'. More information