We use cointegration analysis to show that the long-run behaviour of the Brazilian real effective exchange rate betweeen January 1999 and September 2012 can largely be explained by the price variation of a basket of five commodities – that accounted for 51% of Brazilian export revenues in...

House prices have risen rapidly in most advanced economies. This paper examines to which extent house prices have affected rental markets in 9 advanced economies. The analysis reveals that the short-term pass-through of house prices to rents is typically limited: ceteris paribus, a 10% increase...

House prices have risen rapidly in most advanced economies. This paper examines to which extent house prices have affected rental markets in 9 advanced economies. The analysis reveals that the short-term pass-through of house prices to rents is typically limited: ceteris paribus, a 10% increase...