On the likely extent of falls in Irish house prices

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Title: On the likely extent of falls in Irish house prices
Authors: Kelly, Morgan
Permanent link: http://hdl.handle.net/10197/908
Date: 2007
Abstract: Looking at house price cycles across the OECD since 1970, we find a strong relationship between the size of the initial rise in price and its subsequent fall. Were this relationship to hold for Ireland, it would predict falls of real house prices of 40 to 60 per cent over a period of 8 to 9 years. The unusually large size of the Irish house building industry suggest that any significant house price fall that does occur could impose a difficult adjustment on the economy.
Type of material: Journal Article
Publisher: Economic and Social Research Institute
Journal: Quarterly Economic Commentary
Issue: Summer 2007
Start page: 42
End page: 55
Copyright (published version): Copyright held by the ERSI
Keywords: Housing pricesRegression analysisMacroeconomicsEconomic impact
Subject LCSH: Housing--Prices--Ireland
Ireland--Economic conditions
Regression analysis
Other versions: http://proquest.umi.com/pqdweb?did=1309070721&sid=1&Fmt=6&clientId=13279&RQT=309&VName=PQD
Language: en
Status of Item: Peer reviewed
Appears in Collections:Economics Research Collection

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