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Bank lending and property prices in Sweden
Mid Sweden University, Faculty of Human Sciences, Department of Business, Economics and Law.ORCID iD: 0000-0001-5731-0489
Mid Sweden University, Faculty of Human Sciences, Department of Business, Economics and Law.
2017 (English)In: Book of Proceedings: 6th Malmö Real Estate Research Conference / [ed] Magnus Andersson, Peter Palm, Malmö University , 2017Conference paper, Published paper (Refereed)
Abstract [en]

Purpose – The purpose of this study is to investigate the Granger causal link between bank lending and house prices. Design/methodology/approach – Several econometric methods, including Granger causality tests based on a vector error-correction model, were applied to analyse monthly time series data in the Swedish context. The data includes apartment prices, villa prices, bank lending, mortgage rates, and consumer price index for the period September 2005 to October 2013. Findings – The results show that bank lending and house prices are co-integrated. According to the Granger causality tests, bidirectional relationships exist between bank lending and each of apartment and villa prices, confirming the financial accelerator mechanism. Originality/value – As far as the authors know, this study represents the first analysis of the causal link between bank lending and the housing market in terms of apartment and villa prices in the Swedish context. 

Place, publisher, year, edition, pages
Malmö University , 2017.
Keyword [en]
House prices, Prices of apartments, Prices of villas, Bank lending, Vector error correction model, Granger causality tests
National Category
Social Sciences
Identifiers
URN: urn:nbn:se:miun:diva-32581ISBN: 978-91-7104-782-3 (electronic)OAI: oai:DiVA.org:miun-32581DiVA: diva2:1168937
Conference
The 6th annual real estate workshop, 18-19 maj 2017, Malmö, Sverige.
Available from: 2017-12-21 Created: 2017-12-21 Last updated: 2017-12-22Bibliographically approved

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Öhman, PeterYazdanfar, Darush

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CiteExportLink to record
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Citation style
  • apa
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • Other style
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Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
  • rtf