We examine the relationship between financial development and house prices in the Group of Seven (G7) countries over the period 1870 to 2016. We use parametric panel data models that incorporate interactive fixed effects and non-parametric models that allow us to examine non-linearities and the...

This paper considers a time-varying vector error-correction model that allows for different time series behaviours (e.g., unit-root and locally stationary processes) to interact with each other to co-exist. From practical perspectives, this framework can be used to estimate shifts in the...

This study analyses the existence of the J-curve phenomenon in Australia using quarterly data over the period 1970-2016. The Autoregressive Distributed Lag (ARDL) cointegration and error correction methodology are used to examine the short-run and long-run impact of real exchange rate on...