House price convergence in the euro zone: a pairwise approach

No Thumbnail Available
Authors
William, Miles
Advisors
Issue Date
2020-07-29
Type
Article
Keywords
General regional economics , Housing supply and markets , Macroeconomic aspects of International trade and finance , Macroeconomic issues of monetary unions
Research Projects
Organizational Units
Journal Issue
Citation
William Miles. 2020. House price convergence in the euro zone: a pairwise approach. Economic Systems, 2020:art. no. 100782
Abstract

The adoption of the euro common currency was expected to lead to convergence for a number of economic and financial variables across national borders, including house prices. We apply a probabilistic pairwise approach to the question of whether home values converge across eight euro zone housing markets. Contrary to previous studies, we find only marginal evidence that euro housing markets converge. Moreover, for what convergence there appears to be, there is no evidence that the adoption of the euro itself played a role in creating such convergence. Finally, Germany, the largest and most dominant economy of the currency union, is rarely found to be convergent with other nations.

Table of Contents
Description
Click on the DOI link to access the article (may not be free).
Publisher
Elsevier
Journal
Book Title
Series
Economic Systems;2020:art.no.100782
PubMed ID
DOI
ISSN
0939-3625
EISSN