THE HOUSING-MARKET, MACROECONOMIC ACTIVITY AND FINANCIAL INNOVATION - AN EMPIRICAL-ANALYSIS OF UNITED-STATES DATA

被引:15
作者
WHEELER, M [1 ]
CHOWDHURY, AR [1 ]
机构
[1] MARQUETTE UNIV,DEPT ECON,MILWAUKEE,WI 53233
关键词
D O I
10.1080/00036849300000141
中图分类号
F [经济];
学科分类号
02 ;
摘要
The relationship between macroeconomic activity and residential expenditure over the period 1959:I to 1991:I has been examined. The analysis is conducted using variance decompositions (VDCs) and historical decompositions (HDs). The VDCs indicate that shocks to the money stock, output and interest rates have significant impacts on residential expenditure. The HDs indicate that shocks to macroeconomic variables are relatively unimportant in the determination of residential expenditure in the period following the extensive financial deregulation in the early 1980s.
引用
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页码:1385 / 1392
页数:8
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