Using Australian capital city data from 1984Q3-2008Q2, this paper utilizes a dynamic present value model within a VAR framework to construct time series of house prices depicting what aggregate house prices should be given expectations of future real disposable income – the ‘fundamental...

India’s investment rate has increased fourfold since 1950 and has risen sharply this decade to 36% of GDP. But contradictory views have been expressed regarding the importance of this investment pattern for India’s economic growth. This paper evaluates the impact of the rise in India’s...

We examine in this paper the importance of banks' behavior in the transmission of the monetary policy to the real economy. Monthly data from eight economies in transition that recently became members of the European Union and the techniques of cointegration and Error Correction models are used,...