House prices and capital inflows in Spain during the boom: Evidence from a cointegrated VAR and a structural Bayesian VAR

被引：16

作者：

Cuestas, Juan Carlos ^{[1
,2
]}

机构：

[1] Eesti Pank, Econ & Res Dept, Estonia Pst 13, EE-15095 Tallinn, Estonia

[2] Tallinn Univ Technol, Dept Econ & Finance, Tallinn, Estonia

来源：

JOURNAL OF HOUSING ECONOMICS | 2017年 / 37卷

关键词：

House prices; Capital inflows; Leveraging; CVAR; Structural Bayesian VAR;

D O I：

10.1016/j.jhe.2017.04.002

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

House prices in Spain escalated rapidly in the run up of the financial crisis. In addition, capital inflows may have influenced the amount of credit available for private use. The aim of this paper is to analyse the relationship between foreign capital flows and house prices in Spain. Based on a cointegrated VAR and a structural Bayesian VAR, it is found that both capital inflows and house price shocks have influenced each other in the run up of the Great Moderation. (C) 2017 Elsevier Inc. All rights reserved.

引用

页码：22 / 28

页数：7

共 16 条

[1] Macroeconomic determinants of international housing markets [J].