Please use this identifier to cite or link to this item: https://scholarbank.nus.edu.sg/handle/10635/46294
DC FieldValue
dc.titleThe cyclical association of residential housing price and consumption
dc.contributor.authorSun, J.
dc.contributor.authorSim, L.L.
dc.contributor.authorHin, K.
dc.contributor.authorHo, D.
dc.date.accessioned2013-10-14T05:12:54Z
dc.date.available2013-10-14T05:12:54Z
dc.date.issued2007
dc.identifier.citationSun, J.,Sim, L.L.,Hin, K.,Ho, D. (2007). The cyclical association of residential housing price and consumption. Journal of Real Estate Portfolio Management 13 (3) : 219-248. ScholarBank@NUS Repository.
dc.identifier.issn10835547
dc.identifier.urihttp://scholarbank.nus.edu.sg/handle/10635/46294
dc.description.abstractThis paper develops a theoretical framework to investigate private consumption changes that are brought about by the residential housing price effect, which in turn is envisaged to comprise the income effect, substitution effect, and expectation effect along with the residential price cycle. A frequency domain-based model that employs cross-spectra analysis is consistent with such a theoretical framework, and helps to validate it, as its model-free characteristics avoid the problems of model misspecification and parameter estimation error. In the Singapore context, the results show that residential price affects consumption significantly, depending on the time scale and frequency without a consistent sign. The expectation effect, operating through the capital gain effect, is important in explaining the residential price-consumption relationship and contributes more during the expansion period than the recession period.
dc.sourceScopus
dc.typeConference Paper
dc.contributor.departmentREAL ESTATE
dc.description.sourcetitleJournal of Real Estate Portfolio Management
dc.description.volume13
dc.description.issue3
dc.description.page219-248
dc.identifier.isiutNOT_IN_WOS
Appears in Collections:Staff Publications

Show simple item record
Files in This Item:
There are no files associated with this item.

Google ScholarTM

Check


Items in DSpace are protected by copyright, with all rights reserved, unless otherwise indicated.