The role of housing activity: A case of major developed countries

Terry J. O'Neill, Jack Penm, R. D. Terrell

Research output: Contribution to journalArticleResearchpeer-review

Abstract

Housing activity is an important indicator of general economic activity, and house price movements are an important variable in international financial markets. In this paper we utilise Vector Autoregressive (VAR) models to examine how the interrelationship between housing activity and general economic activity has evolved in four OECD countries. Our results provide support for the hypothesis that the relationship between housing activity and general economic activity has changed in many OECD countries, For Australia, however, no such evidence was found. These results suggest that caution needs to be exercised when using previous experience to forecast both housing cycles and general economic activity.

Original languageEnglish
Pages (from-to)673-682
Number of pages10
JournalInternational Journal of Management and Enterprise Development
Volume5
Issue number6
DOIs
Publication statusPublished - Nov 2008

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Economic activity
Developed countries
OECD countries
House prices
Vector autoregressive model
International financial markets
Interrelationship

Cite this

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The role of housing activity : A case of major developed countries. / O'Neill, Terry J.; Penm, Jack; Terrell, R. D.

In: International Journal of Management and Enterprise Development, Vol. 5, No. 6, 11.2008, p. 673-682.

Research output: Contribution to journalArticleResearchpeer-review

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