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Investigating the housing market fluctuation under an expansionary monetary policy in Australia

Liu, Junxiao and Liu, Chunlu 2012, Investigating the housing market fluctuation under an expansionary monetary policy in Australia, Pacific rim property research journal, vol. 18, no. 1, pp. 81-89.

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Title Investigating the housing market fluctuation under an expansionary monetary policy in Australia
Author(s) Liu, Junxiao
Liu, Chunlu
Journal name Pacific rim property research journal
Volume number 18
Issue number 1
Start page 81
End page 89
Total pages 9
Publisher Pacific Rim Real Estate Society
Place of publication Sydney, N. S. W.
Publication date 2012
ISSN 1444-5921
Keyword(s) housing market
interest rates
money supply
structural VAR
Summary This research empirically investigates the impact of monetary policy on the housing market in Australia from 1996 to 2009. Three primary variables associated with the housing sector and monetary policy, including interest rates, money supply and house prices, are estimated by a structural vector autoregression (VAR) model. Depending upon the analysis using the impulse response function, it can be identified that monetary policy significantly affects the housing market in Australia by the adjustments in interest rates and money supply. The empirical results from this study may be useful for policy makers to enact appropriate policies in relation to the infrastructure planning.
Language eng
Field of Research 120201 Building Construction Management and Project Planning
Socio Economic Objective 870503 Residential Building Management and Services
HERDC Research category C1 Refereed article in a scholarly journal
Copyright notice ©2012, Pacific Rim Real Estate Society
Persistent URL http://hdl.handle.net/10536/DRO/DU:30046884

Document type: Journal Article
Collections: School of Architecture and Built Environment
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