The housing price bubble, the monetary policy and the foreclosure crisis in the US

By:

MCDONALD, John F

Contributor(s):

STOKES, Houston H

Material type: Text

TextSeries: Applied Economics Letters ; Volume , number ,New York Taylor & Francis 2013Content type:

text

Media type:

unmediated

Carrier type:

volume

Subject(s):

Online resources:

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Summary: This article presents a monthly vector autoregressive (VAR) model of housing prices, the federal funds rate, foreclosures, the unemployment rate and the mortgage interest rate for the United States for the period of 2000(1)–2010(8). Impulse response functions show that negative shocks to the federal funds rate increased housing prices. The interaction effect between the foreclosure rate and the housing prices shows that an initial shock to the foreclosure rate produced further increases in the foreclosure rate through a reduction in housing prices.

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Item type	Current library	Call number	Vol info	Status	Notes	Date due	Barcode
Journal Article	Main Library - Special Collections	HB1.A666 APP (Browse shelf(Opens below))	Vol.20 , No.10 - 12 (Aug 2013)	Not for loan	For In House Use Only

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This article presents a monthly vector autoregressive (VAR) model of housing prices, the federal funds rate, foreclosures, the unemployment rate and the mortgage interest rate for the United States for the period of 2000(1)–2010(8). Impulse response functions show that negative shocks to the federal funds rate increased housing prices. The interaction effect between the foreclosure rate and the housing prices shows that an initial shock to the foreclosure rate produced further increases in the foreclosure rate through a reduction in housing prices.

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