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Articles:
Housing Prices and
Macroeconomic Factors: Prospects within the European Monetary Authors: Nicholas Apergis Start Page:63 Abstract:
This study analyses the dynamic effects of specific macroeconomic variables
(i.e. housing loan rates, inflation and employment) on the price of new
houses sold in Greece. An error correction vector autoregressive (ECVAR)
model is used to model the impact of the macroeconomic variables on real
housing prices. Variance decompositions show that the housing loan rate is
the variable with the highest explanatory power over the variation of real
housing |
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