Options
The relationship between housing starts and mortgage availability
Author(s)
Date Issued
1985-11
Date Available
2008-12-09T17:17:50Z
Abstract
Sims' innovation-accounting techniques are used to investigate the relationship between housing starts and mortgage availability using U.S. monthly data over 1967-1984. First, a four variable vector autoregression is employed to compute impulse response functions. The results suggest that housing starts are significantly in fluenced by both interest rates and mortgage availability. Second, the estimated vector autoregression is used to compute a historical decomposition of the
starts series using 1979(12) as the base period. The decomposition suggests that deregulation and the evolution of more
competitive financial markets has led to a significant weakening of availability effects.
starts series using 1979(12) as the base period. The decomposition suggests that deregulation and the evolution of more
competitive financial markets has led to a significant weakening of availability effects.
Type of Material
Journal Article
Publisher
MIT Press
Journal
Review of Economics and Statistics
Volume
67
Issue
4
Start Page
693
End Page
696
Copyright (Published Version)
Copyright 1985 MIT Press
Subject – LCSH
Housing starts--United States
Mortgage loans--United States
Web versions
Language
English
Status of Item
Peer reviewed
ISSN
0034-6535
This item is made available under a Creative Commons License
File(s)
Loading...
Name
thomr_article_pub_001.pdf
Size
676.67 KB
Format
Adobe PDF
Checksum (MD5)
c59aa1f65bacd59ed06e61a0150815c6
Owning collection