Economic growth and increasing house prices

Research output: Journal Publications and Reviews (RGC: 21, 22, 62)21_Publication in refereed journalNot applicablepeer-review

19 Scopus Citations
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Detail(s)

Original languageEnglish
Pages (from-to)183-190
Journal / PublicationPacific Economic Review
Volume8
Issue number2
Publication statusPublished - Jun 2003
Externally publishedYes

Abstract

Several cities and countries in Asia and North America have experienced large increases in housing prices. We extend the 1991 paper by S. Rebelo to simulate this situation. We show that growth in real housing prices can result as economic growth persists, even when population growth is zero. Another finding is that reported increases in housing prices might be underestimated. In particular, the growth rate of a relative price index may converge to zero even when house prices in real terms display sustained growth.

Citation Format(s)

Economic growth and increasing house prices. / Leung, Charles Ka Yui.

In: Pacific Economic Review, Vol. 8, No. 2, 06.2003, p. 183-190.

Research output: Journal Publications and Reviews (RGC: 21, 22, 62)21_Publication in refereed journalNot applicablepeer-review