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Maintaining the stability of the housing market in the event of an economic shock

Author

Listed:
  • Alina Stundziene
  • Vaida Pilinkiene
  • Andrius Grybauskas

Abstract

Purpose - This paper aims to identify the economic stimulus measures that ensure stability of the Lithuanian housing market in the event of an economic shock. Design/methodology/approach - The econometric analysis includes stationarity test, Granger causality test, correlation analysis, autoregressive distributed lag models and cointegration analysis using ARDL bounds testing. Findings - The econometric modelling reveals that the housing price in Lithuania correlates with quarterly changes in the gross domestic product and approves that the cycles of the real estate market are related to the economic cycles. Economic stimulus measures should mainly focus on stabilizing the economics, preserving the cash and deposits of households, as well as consumer spending in the case of economic shock. Originality Value - This study is beneficial for policy makers to make decisions to maintain stability in the housing market in the event of any economic shock.

Suggested Citation

  • Alina Stundziene & Vaida Pilinkiene & Andrius Grybauskas, 2022. "Maintaining the stability of the housing market in the event of an economic shock," International Journal of Housing Markets and Analysis, Emerald Group Publishing Limited, vol. 16(2), pages 255-272, March.
    • Handle: RePEc:eme:ijhmap:ijhma-12-2021-0142
    DOI: 10.1108/IJHMA-12-2021-0142
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