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The Housing Markets in Spain and Portugal: Evidence of Persistence

Author

Listed:
  • Carlos P. Barros

    () (Instituto Superior de Economia e Gest?o; Technical University of Lisbon Portugal and UECE (Research Unit on Complexity and Economics),Portugal)

  • Luis A. Gil-Alana

    () (Faculty of Economics, University of Navarra, Spain)

Abstract

This paper analyses house prices in Spain and Portugal over the last twenty years. In recent decades, housing prices have increased dramatically in the two countries; However, in 2007 the US subprime mortgage crisis broke out, which had worldwide influences, including Spain and Portugal. The purpose of this research is to study the time series persistence and the potential presence of breaks in these two countries. From this viewpoint, it is interesting to see how housing policy makers design reforms to adjust the real estate market, an issue of real concern for both citizens and institutions.

Suggested Citation

  • Carlos P. Barros & Luis A. Gil-Alana, 2013. "The Housing Markets in Spain and Portugal: Evidence of Persistence," Review of Economics & Finance, Better Advances Press, Canada, vol. 3, pages 19-32, November.
  • Handle: RePEc:bap:journl:130402
    as

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    References listed on IDEAS

    as
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    More about this item

    Keywords

    Housing prices; Spain; Portugal; Persistence;

    JEL classification:

    • C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes
    • C52 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Evaluation, Validation, and Selection
    • R29 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - Other

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