Analysis of the impact of excess mortgages on housing prices using the cointegration test

Ferruz, L. (Universidad de Zaragoza) ; Lample, L.

Resumen: This article attempts to explain and predict housing prices by constructing a model based on the variables that most influence demand: the theoretical purchase effort index without tax deductions as well as a new and innovative indicator that includes the excess of mortgages granted. The Johansen methodology for cointegration analysis reveals the existence of long-run equilibrium and the model’s subsequent ECM, to verify the statistical significance of the variables, confirms the validity of the model concerning this Spanish case study.

Idioma: Inglés

DOI: 10.1080/13504851.2016.1142648

Año: 2016

Publicado en: APPLIED ECONOMICS LETTERS 23, 16 (2016), [5 pp.]
ISSN: 1350-4851

Factor impacto JCR: 0.478 (2016)

Categ. JCR: ECONOMICS rank: 281 / 347 = 0.81 (2016) - Q4 - T3

Factor impacto SCIMAGO: 0.357 - Economics and Econometrics (Q3)

Tipo y forma: Article (PostPrint)

Área (Departamento): Área Economía Finan. y Contab. (Dpto. Contabilidad y Finanzas)