Advanced Search
MyIDEAS: Login to save this article or follow this journal

Macroeconomic Stability, Equities and Real Estate: A Dynamic Model for the U.K

Contents:

Author Info

  • W. David McCausland

    (University of Aberdeen)

  • Ian D. McAvinchey

    (University of Aberdeen)

Registered author(s):

    Abstract

    The role of equities, house prices, and goverment bonds are investigated in a three-equation dynamic macroeconomic model of the United Kingdom economy. A theoretical structure is given and the derived econometric model is estimated using quarterly data 1964(4)-2005(1). The equity crash of 1999-2000 is used as a way of analysing the dynamic interactions of the system. These show strong evidence of substitution between housing and equities as a means of holding wealth, while the volatility in equities and house prices tends to mitigate the expected volatility in income. The supply of goverment bonds and monetary policy are seen to be stabilising in the post shock environment.

    Download Info

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below under "Related research" whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Bibliographic Info

    Article provided by Cyprus Economic Society and University of Cyprus in its journal Ekonomia.

    Volume (Year): 12 (2009)
    Issue (Month): 2 (Winter)
    Pages: 127-159

    as in new window
    Handle: RePEc:ekn:ekonom:v:12:y:2009:i:2:p:127-159

    Contact details of provider:
    Web page: http://www.ekonomia.ucy.ac.cy/
    More information through EDIRC

    Related research

    Keywords:

    Find related papers by JEL classification:

    References

    No references listed on IDEAS
    You can help add them by filling out this form.

    Citations

    Lists

    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

    Statistics

    Access and download statistics

    Corrections

    When requesting a correction, please mention this item's handle: RePEc:ekn:ekonom:v:12:y:2009:i:2:p:127-159. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Managing Editor).

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.