House prices, non-fundamental components and interstate spillovers: the Australian experience
Using Australian capital city data from 1984Q3–2008Q2, this paper utilizes a dynamic present valuemodel within a VAR framework to construct time series of house prices depicting what aggregate houseprices should be given expectations of future real disposable income – the ‘‘fundamental price” – andc...
| Main Authors: | , , |
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| Format: | Journal Article |
| Published: |
Elsevier BV, North Holland
2011
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| Subjects: | |
| Online Access: | http://hdl.handle.net/20.500.11937/20472 |