Economic policy uncertainty and house prices: evidence from geographical regions of England and Wales
Economic policy uncertainty and house prices: evidence from geographical regions of England and Wales
This paper empirically investigates the effect of the economic policy uncertainty on house prices across 10 different geographical regions of England and Wales. The empirical study is conducted by means of the Autoregressive Distributed Lag (ARDL) bounds cointegration test. Results show a stable long‐run relationship (cointegration) between house prices and its determinants (including economic policy uncertainty) in nine of the regions. Results also evince long‐term and short‐term negative effect of uncertainty to house prices. These results clearly indicate the importance of economic policy uncertainty in the determination of UK house prices and demand.
Choudhry, Taufiq
6fc3ceb8-8103-4017-b3b5-2d38efa57728
Choudhry, Taufiq
6fc3ceb8-8103-4017-b3b5-2d38efa57728
Choudhry, Taufiq
(2018)
Economic policy uncertainty and house prices: evidence from geographical regions of England and Wales.
Real Estate Economics.
(doi:10.1111/1540-6229.12266).
Abstract
This paper empirically investigates the effect of the economic policy uncertainty on house prices across 10 different geographical regions of England and Wales. The empirical study is conducted by means of the Autoregressive Distributed Lag (ARDL) bounds cointegration test. Results show a stable long‐run relationship (cointegration) between house prices and its determinants (including economic policy uncertainty) in nine of the regions. Results also evince long‐term and short‐term negative effect of uncertainty to house prices. These results clearly indicate the importance of economic policy uncertainty in the determination of UK house prices and demand.
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Accepted/In Press date: 27 September 2018
e-pub ahead of print date: 4 October 2018
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Local EPrints ID: 424929
URI: http://eprints.soton.ac.uk/id/eprint/424929
ISSN: 1540-6229
PURE UUID: 0de6742b-f8d0-46cb-b0cb-6087b91516ea
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Date deposited: 05 Oct 2018 16:30
Last modified: 16 Mar 2024 07:07
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