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Publicação
House price cycles in Europe
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| 1.35 MB | Adobe PDF |
Orientador(es)
Resumo(s)
This Project uses data for GDP and real housing prices for twelve European countries plus the
United States to study the relationship between the housing market and GDP cycles. The main
findings suggest that there is evidence of a strong relationship between the two cycles for most of
the countries analysed. Moreover, an analysis of the relationship between the Portuguese economy
and other European economies is also performed for the two cycles. This analysis shows that there
is a strong correlation between the European economies when the GDP is used as benchmark and
that this correlation decreases when the housing market is considered.
Descrição
Palavras-chave
Housing price cycle GDP cycle Synchronization and convergence European Union