Does total-factor productivity drive housing prices? A growth-accounting exercise for four countries

Housing prices diverge from construction prices after 1997 in four major countries. Besides, total-factor productivity (TFP) differences between construction and the general economy account for the evolution of construction prices in the US and Germany, but not in the UK and Spain.

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Year of publication:	2012
Authors:	Moro, Alessio ; Nuño, Galo
Published in:	Economics Letters. - Elsevier, ISSN 0165-1765. - Vol. 115.2012, 2, p. 221-224
Publisher:	Elsevier
Subject:	Housing prices \| TFP \| Growth accounting \| Cobb–Douglas assumption

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Type of publication:	Article
Classification:	E01 - Measurement and Data on National Income and Product Accounts and Wealth ; E23 - Production ; E25 - Aggregate Factor Income Distribution ; E32 - Business Fluctuations; Cycles
Source:	RePEc - Research Papers in Economics

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