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Effects of oil shocks on global securitized real estate markets

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  • Yunus, Nafeesa

Abstract

This study examines the impact of aggregate oil shocks and disentangled oil shocks on U.S. and seven major securitized real estate markets. Oil is integrated with the markets and leads them over the long-run. The short-run impact of oil shocks on the markets is negative. A disentangled analysis of oil shocks reveals that supply and demand shocks have differential impacts. Over the long-run, supply shocks have little impact, while demand shocks contribute significantly to common trends and lead each market. In the short-run, demand shocks have positive effects on each market, whereas supply shocks have negative but lesser effects.

Suggested Citation

  • Yunus, Nafeesa, 2025. "Effects of oil shocks on global securitized real estate markets," Finance Research Letters, Elsevier, vol. 80(C).
    • Handle: RePEc:eee:finlet:v:80:y:2025:i:c:s1544612325001369
    DOI: 10.1016/j.frl.2025.106871
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    More about this item

    Keywords

    Crude oil; Aggregate oil shocks; Disentangled oil shocks; Financial crisis; Cointegration; Common trends; Impulse response functions; Cross-market behavior;
    All these keywords.

    JEL classification:

    • C5 - Mathematical and Quantitative Methods - - Econometric Modeling
    • C58 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Financial Econometrics
    • F3 - International Economics - - International Finance

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