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Campo DC | Valor |
---|---|
dc.contributor.author | Gimeno, Ricardo |
dc.contributor.author | Martínez Carrascal, Carmen |
dc.coverage.spatial | España |
dc.date.accessioned | 2019-08-10T17:47:12Z |
dc.date.available | 2019-08-10T17:47:12Z |
dc.date.issued | 2006-02-20 |
dc.identifier.issn | ISSN: 0213-2710 (en papel) |
dc.identifier.issn | ISSN: 1579-8666 (en línea) |
dc.identifier.uri | https://repositorio.bde.es/handle/123456789/6858 |
dc.description | Incluye bibliografía y anexos |
dc.description.abstract | The aim of this paper is to analyse, using a vector error-correction model (VECM), the dynamic interaction between house prices and loans for house purchase in Spain. The results show that both variables are interdependent in the long run: loans for house purchase depend positively on house prices, while house prices adjust when this credit aggregate departs from the level implied by its long-run determinants. In contrast, disequilibria in house prices are corrected only through changes in this variable. As for short-run dynamics, the results show that the two variables have a positive contemporaneous impact on each other, indicating the existence of mutally reinforcing cycles in both variables. [resumen de autor] |
dc.format.extent | 51 p. : tab., gráf. |
dc.language.iso | eng |
dc.publisher | Banco de España |
dc.relation.ispartof | Documentos de Trabajo / Banco de España, 0605 |
dc.rights | Reconocimiento-NoComercial-CompartirIgual 4.0 Internacional (CC BY-NC-SA 4.0) |
dc.rights | In Copyright - Non Commercial Use Permitted |
dc.rights.uri | https://creativecommons.org/licenses/by-nc-sa/4.0/deed.es_ES |
dc.rights.uri | http://rightsstatements.org/vocab/InC-NC/1.0/ |
dc.subject | Mortgage debt |
dc.subject | Housing prices |
dc.subject | Error correction |
dc.title | The interaction between house prices and loans for house purchase : the Spanish case |
dc.type | Documento de trabajo |
dc.identifier.bdebib | 000179647 |
dc.identifier.bdepub | DTRA-200605-eng |
dc.subject.bde | Crédito y mercado hipotecario |
dc.subject.bde | Vivienda |
dc.publisher.bde | Madrid : Banco de España, 2006 |
dc.subject.jel | E32 |
dc.subject.jel | G21 |
dc.subject.jel | R21 |