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How Long Do Housing Cycles Last? A Duration Analysis for Emerging Economies
In this paper, I empirically study the amplitudes and durations of housing cycles in selected emerging countries. Using the Harding and Pagan (2002) approach, I identify peaks and troughs of house prices for 10 countries. I find that, on average, housing expansions last longer and have greater amplitudes than housing contractions. I, then, estimate a discrete time survival model of housing expansions and contractions. I show that both contractions and expansions have positive duration dependence. I find that inflation and economic growth are useful predictors for the end of periods of
expansions and contractions.
Ketersediaan
| Call Number | Location | Available |
|---|---|---|
| PSB lt.2 - Karya Akhir (Majalah) | 1 |
| Penerbit | Jakarta: Bank Indonesia 2020 |
|---|---|
| Edisi | Volume 23, Number 2, 2020 |
| Subjek | Emerging Economies Housing cycles Duration |
| ISBN/ISSN | 2460-9196 |
| Klasifikasi | NONE |
| Deskripsi Fisik | 296 p. |
| Info Detail Spesifik | Bulletin of Monetary Economics and Banking |
| Other Version/Related | Tidak tersedia versi lain |
| Lampiran Berkas |