On the macroeconomic determinants of the housing market in Greece: a VECM approach

Hellenic Observatory (2015) On the macroeconomic determinants of the housing market in Greece: a VECM approach. GreeSE papers (88). Hellenic Observatory, European Institute, London, UK.

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Abstract

This study examines the role of the housing market in the Greek economy. We review the literature and assess the interdependence between the housing price index and its macroeconomic determinants within a VECM framework. An equilibrium relationship exists and in the long run the retail sector and mortgage loans emerge as the most important variables for housing. The dynamic analysis shows that the mortgage loans followed by retail trade are the variables with the most explanatory power for the variation of the houses price index.

Item Type:	Monograph (Discussion Paper)
Official URL:	http://www.lse.ac.uk/europeanInstitute/research/he...
Additional Information:	© 2015 The Authors
Divisions:	Hellenic Observatory
Subjects:	H Social Sciences > HC Economic History and Conditions
Date Deposited:	20 Feb 2015 10:21
Last Modified:	13 Sep 2024 20:30
URI:	http://eprints.lse.ac.uk/id/eprint/61014

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