In this paper we propose a multivariate analysis of a cointegrated vectorial autoregressive model with structural breaks affecting the cointegrating vectors. These changes are previously recognized using a single-equation methodology. Asymptotic properties of the breaks dates estimators allow us...

Disability has consequences on the dynamic changes in the positions on the labour and housing markets that may be magnifying each other. We estimate the share in the gap in labour force participation between able-bodied and disabled people that can be attributed to differences in individual home...

A large body of literature in real estate has been devoted to the correlation between prices and changes in liquidity of the market (i.e. the ability to sell and buy more or less rapidly). However the specific role of liquidity risk ñ uncertainty in time to sell ñ has not been explored yet....