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Does TFP Drive Housing Prices? A Growth Accounting Exercise for Four Countries


Alessio Moro


University of Cagliari

Galo Nuno


Bank of Spain - Department of International Economics & International Relations
December 5, 2011

Banco de Espana Working Paper No. 1133

Abstract:     
Housing prices diverge from construction prices after 1997 in four major countries. Besides, TFP differences between construction and the general economy account for the evolution of construction prices in the U.S. and Germany, but not in the U.K. and Spain.

Number of Pages in PDF File: 15

Keywords: housing prices, TFP, growth accounting, Cobb-Douglas

JEL Classification: E01, E23, E25, E32

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Date posted: December 5, 2011  

Suggested Citation

Moro, Alessio and Nuno, Galo, Does TFP Drive Housing Prices? A Growth Accounting Exercise for Four Countries (December 5, 2011). Banco de Espana Working Paper No. 1133. Available at SSRN: http://ssrn.com/abstract=1968364 or http://dx.doi.org/10.2139/ssrn.1968364

Contact Information

Alessio Moro (Contact Author)
University of Cagliari ( email )
Via S.Ignazio 17
Cagliari
Italy
HOME PAGE: http://economia.unica.it/deca/
Galo Nuno
Bank of Spain - Department of International Economics & International Relations ( email )
Alcala 50
Madrid, 28014
Spain
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