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Housing prices and external shocks’ impact on south Africa and Czech Republic’s housing prices: A vector error correction model and impulse response functions approach
Date Issued
2016
Publisher
Routledge
ISBN
9781138821934
9781315743035
Citation
In Li, Y. M., & Chau, K. (Eds.). (2016). Econometric analyses of international housing markets (pp. 131-146). Routledge.
Type
Book Chapter
Abstract
Partly because of the expansionary monetary policies in many countries in recent decades, housing prices in many mega cities are very high and have been on a rising trend for years (although there have been times when prices have fallen). In many countries housing is considered to be the most important investment category in households’ investment portfolios (Hochguerte 2001, Li 2015). In fact, many households’ wealth are held in the form of housing (Hochguerte 2001) instead of the traditional gold and silver.
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