Kohler, Karsten; Tippet, Benjamin; Stockhammer, Engelbert - In: European Journal of Economics and Economic Policies: … 20 (2023) 3, pp. 461-490
The paper provides a framework for theorising the role of house price cycles in national growth models. We synthesise … countries experience what we call 'house-price-driven growth models'. First, we argue that house price dynamics have been … undertheorised in existing growth models analysis. Finance-led models can be properly understood only against the background of …