Kishor, N. Kundan; Marfatia, Hardik; Nam, Gooan; Rizi, … - 2021
We examine the local demand channel hypothesis of the housing market that predicts a larger response of employment in the non-tradable sector to house price shocks than employment in the tradable sector using state-level monthly data from 1990:M1-2019:M12. Our results from a panel VAR model and...