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A Var Analysis Of The Effect Of Housing Loan Policy

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  • Keiko Nosse Hirono

Abstract

. I investigated the effect of the Government Housing Loan Corporation (GHLC) housing loan policy on housing starts in Japan, employing the VAR model for the first time in the area of Japanese housing policy. A lowering of the interest rate of GHLC home loans increased housing starts up to the point where the budget exceeded the actual amount of GHLC home loans granted. I found that the amount of GHLC home loans was effective in increasing housing starts up to the point of structural change, after which the effect was seen to lessen.

Suggested Citation

  • Keiko Nosse Hirono, 2005. "A Var Analysis Of The Effect Of Housing Loan Policy," Pacific Economic Review, Wiley Blackwell, vol. 10(4), pages 557-576, December.
    • Handle: RePEc:bla:pacecr:v:10:y:2005:i:4:p:557-576
    DOI: 10.1111/j.1468-0106.2005.00292.x
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    Cited by:

    1. Keiko Nosse Hirono, 2009. "Housing Policy For The Elderly: A Policy To Build Barrier‐Free Rental Housing," Pacific Economic Review, Wiley Blackwell, vol. 14(5), pages 694-704, December.

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