publication . Doctoral thesis . 2012

Essays on the U.S. Housing Market and the Credit Market

Sun, Chuanlei;
Open Access English
  • Published: 01 Jan 2012
  • Publisher: eScholarship, University of California
  • Country: United States
Abstract
This dissertation includes three chapters. The first two chapters focus on the U.S. housing market and the credit market and the third chapter emphasizes interest rate cycles and stock market cycles in the U.S.Chapter 2 proposes a dynamic factor model to study the U.S. housing market and the credit market separately in the last decades. The model extracts the latent unobserved state representing each market from an array of key related variables. The extracted factor from each market is compared to business cycles and to changes in monetary policy as represented by fluctuations in interest rates. I find that, firstly, there are strong correlations between the ho...
Subjects
free text keywords: Economics, Finance
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