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

15 Pages Posted: 5 Dec 2011  

Alessio Moro

University of Cagliari

Galo Nuño

Banco de España

Date Written: December 5, 2011

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.

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

JEL Classification: E01, E23, E25, E32

Suggested Citation

Moro, Alessio and Nuño, 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: https://ssrn.com/abstract=1968364 or http://dx.doi.org/10.2139/ssrn.1968364

Alessio Moro (Contact Author)

University of Cagliari ( email )

Via S.Ignazio 17
Cagliari
Italy

HOME PAGE: http://economia.unica.it/deca/

Galo Nuno

Banco de España ( email )

Alcala 50
Madrid 28014
Spain

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