| dc.contributor.author | Miles, William | |
| dc.date.accessioned | 2014-06-17T17:27:03Z | |
| dc.date.available | 2014-06-17T17:27:03Z | |
| dc.date.issued | 2014 | |
| dc.identifier.citation | Miles, William. 2014. The housing bubble: how much blame does the fed really deserve? Journal of Real Estate Research, vol. 36:no. 1:ppg. 41-58. | en_US |
| dc.identifier.issn | 0896-5803 | |
| dc.identifier.other | WOS:000333231100002 | |
| dc.identifier.uri | http://ideas.repec.org/a/jre/issued/v36n12014p41-58.html | |
| dc.identifier.uri | http://hdl.handle.net/10057/10598 | |
| dc.description | Click on the link to access the article (may not be free). | en_US |
| dc.description.abstract | Two recent empirical papers have blamed the Fed for the latest boom and bust in housing. Neither study includes long-term interest rates, which are more affected by global factors than the federal funds rate (FFR). In this paper, I include both the mortgage rate and the FFR as determinants of housing variables. The results indicate the long-term rate has independent and sometimes greater predictive power for housing than the FFR, especially in recent years. Finally, I demonstrate that the mortgage rate does not simply proxy for monetary policy-the impact of the FFR on long-term rates has also fallen over time. | en_US |
| dc.language.iso | en_US | en_US |
| dc.publisher | American Real Estate Society | en_US |
| dc.relation.ispartofseries | Journal of Real Estate Research;v.36:no.1 | |
| dc.title | The housing bubble: how much blame does the fed really deserve? | en_US |
| dc.type | Article | en_US |
