House prices, non-fundamental components and interstate spillovers: the Australian experience

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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...

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Bibliographic Details
Main Authors:	Costello, Gregory, Fraser, Patricia, Groenewold, N.
Format:	Journal Article
Published:	Elsevier BV, North Holland 2011
Subjects:	House-Price Income Ratio VAR/VEC Modelling House Prices House Price Fundamentals Present Value Model
Online Access:	http://hdl.handle.net/20.500.11937/20472

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