Educational attainment,growth and poverty reduction within the MDG framework: simulations and costing for the Peruvian case |
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Abstract: | Using quarterly data, 1999:Q2–2009:Q3, we empirically examine the key macro determinants of housing prices for China’s residential market. Employing Granger causality and Vector Auto-Regression (VAR) models, we find that there exists strong bivariate causality between house price increases and its determinants. The variance decomposition suggests that speculative factors reflected by past increases in real house price contribute a relatively larger proportion to house price rises relative to fundamental factors. |
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Keywords: | house price stock returns interest rate bank credit economic growth |
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