International Macroeconomic Aspects of Housing

Research output: Chapters, Conference Papers, Creative and Literary Works (RGC: 12, 32, 41, 45)12_Chapter in an edited book (Author)peer-review

View graph of relations

Author(s)

Related Research Unit(s)

Detail(s)

Original languageEnglish
Title of host publicationHandbook of Real Estate and Macroeconomics
EditorsCharles Ka Yui Leung
PublisherEdward Elgar
Chapter11
Pages285-311
ISBN (Electronic)978 1 78990 849 7
ISBN (Print)978 1 78990 848 0
Publication statusPublished - 2022

Abstract

This paper studies whether the relationships between housing prices and macroeconomic variables have changed after the 2008 Global Financial Criss (GFC). re-examine the business cycle correlations in 22 Organization for Economic Co- operation and Development (OECD) member countries. In general, macro variables exhibited a strong association with housing prices. While some correlations are weakened or strengthened, some are even reversed after the GFC. I also provide a literature review on why housing markets are essential for propagating shocks and related to business cycles.

Citation Format(s)

International Macroeconomic Aspects of Housing. / Ng, Joe Cho Yiu.
Handbook of Real Estate and Macroeconomics. ed. / Charles Ka Yui Leung. Edward Elgar, 2022. p. 285-311.

Research output: Chapters, Conference Papers, Creative and Literary Works (RGC: 12, 32, 41, 45)12_Chapter in an edited book (Author)peer-review