کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
963823 1479111 2015 13 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Trends and convergence in global housing markets
ترجمه فارسی عنوان
گرایش ها و همگرائی در بازارهای جهانی مسکن
کلمات کلیدی
بازار مسکن بین المللی؛ بحران مالی جهانی؛ آلودگی. هم انباشتگی؛ تجزیه واریانس؛ همگرايی اقتصاد کلان
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
چکیده انگلیسی


• We investigate the degree linkages among 10 major global housing markets.
• Global housing markets have become increasingly convergent over time.
• Global housing markets are more susceptible to U.S. housing shocks after the recent crisis.
• U.S. housing market is highly “exogenous” and the “global leader”.
• Co-movements among global housing can be attributed to real convergence.

This study evaluates the degree of convergence among the housing markets of 10 major economies across North America, Europe and Asia. Long-run results indicate that the housing markets have become increasingly interdependent over time and more so after the onset of the most recent housing crisis. Short-run analysis suggests that the global housing markets have become more susceptible to shocks emanating from the U.S. over the crisis and the post-crisis periods in comparison to the pre-crisis period. However, the U.S. housing market is found to be highly exogenous and the global “leader” since it is influenced primarily by its own innovations and is not affected reciprocally by shocks originating from the international housing markets. Finally, the study shows that the trends and co-movements among global housing markets can be attributed to real convergence.

ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of International Financial Markets, Institutions and Money - Volume 36, May 2015, Pages 100–112
نویسندگان
,