Regime switching and the responsiveness of prices to supply: The case of the Irish housing market

Egan, Paul; McQuinn, Kieran

doi:10.1016/j.qref.2022.12.001

Cited by 3 publications

(1 citation statement)

References 22 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…A number of commentators have documented the difficulties experienced by the supply side of the Irish construction sector in the aftermath of the Great Financial Crisis (GFC); Egan and McQuinn (2022) and Cronin and McQuinn (2021) note the implications of the crisis on the sector in terms of its impact through regulatory changes in the financial sector and the overall scarring effects of the collapse in Irish house-building with many developers going into liquidation and leaving the sector altogether. Cumulatively, these factors have impaired the ability of the construction sector to respond to the significant increase in housing demand which accompanied the substantial recovery exhibited by the Irish economy as a whole post-2012.…”

Section: Introductionmentioning

confidence: 99%

Quarterly Economic Commentary, Autumn 2023

McQuinn,

O'Toole,

Kenny

2023

View full text Add to dashboard Cite

show abstract

Section: Introductionmentioning

confidence: 99%

Quarterly Economic Commentary, Autumn 2023

McQuinn,

O'Toole,

Kenny

2023

View full text Add to dashboard Cite

show abstract

Macroeconomic drivers effect on housing sale prices in China

Wang,

Hussain,

Yan

2024

IJHMA

View full text Add to dashboard Cite

Purpose The purpose of this study is to conduct a thorough empirical investigation of the intricate relationship between urban housing sales prices and land supply prices in China, with the aim of elucidating the underlying economic principles governing this dynamic interplay. Design/methodology/approach Using monthly data of China, the authors use the asymmetry nonlinear autoregressive distributed lag (NARDL) model to test for nonlinearity in the relationship between land supply price and urban housing prices. Findings The empirical results confirm the existence of an asymmetric relationship between land supply price and urban housing prices. The authors find that land supply price has a positive and statistically significant impact on urban housing prices when land supply is increasing. Policymakers should strive to strike a balance between safeguarding residents’ housing rights and maintaining market stability. Research limitations/implications Although the asymmetric effect of land supply price has been identified as a significant contributor in this study, it is important to note that the research primarily relies on time series data and focuses on analysis at the national level. Although time series data offer a macroscopic perspective of overall trends within a country, they fail to adequately showcase the structural variations among different cities. Practical implications To ensure a stable housing market and meet residents’ housing needs, policymakers must reexamine current land policies. Solely relying on restricting land supply to control housing prices may yield counterproductive results. Instead, increasing land supply could be a more viable option. By rationally adjusting land supply prices, the government can not only mitigate excessive growth in housing prices but also foster the healthy development of the housing market. Originality/value First, the authors have comprehensively evaluated the impact of land supply prices in China on urban housing sales prices, examining whether they play a facilitating or mitigating role in the fluctuation of these prices. Second, departing from traditional linear analytical frameworks, the authors have explored the possibility of a nonlinear relationship existing between land supply prices and urban housing sales prices in China. Finally, using an advanced NARDL model, the authors have delved deeper into the asymmetric effects of land supply prices on urban housing sales prices in China.

show abstract

Impact of digitalization of public transport and city mobility on traffic structure and on-road emissions

Netov

Lomev

2022

2022 6th European Conference on Electrical Engineering &Amp; Computer Science (ELECS)

View full text Add to dashboard Cite

Regime switching and the responsiveness of prices to supply: The case of the Irish housing market

Cited by 3 publications

References 22 publications

Quarterly Economic Commentary, Autumn 2023

Quarterly Economic Commentary, Autumn 2023

Macroeconomic drivers effect on housing sale prices in China

Impact of digitalization of public transport and city mobility on traffic structure and on-road emissions

Contact Info

Product

Resources

About