| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP10295 |
| DP10295 Banking Integration and House Price Comovement | |
| David Thesmar; Augustin Landier; David Sraer | |
| 发表日期 | 2014-12-14 |
| 出版年 | 2014 |
| 语种 | 英语 |
| 摘要 | The correlation across US states in house price growth increased steadily between 1976 and 2000. This paper shows that the contemporaneous geographic integration of the US banking market, via the emergence of large banks, was a primary driver of this phenomenon. To this end, we first theoretically derive an appropriate measure of banking integration across state pairs and document that house price growth correlation is strongly related to this measure of financial integration. Our IV estimates suggest that banking integration can explain up to one third of the rise in house price correlation over the period. |
| 主题 | Financial Economics ; International Macroeconomics |
| 关键词 | Banking deregulation Comovement Real estate |
| URL | https://cepr.org/publications/dp10295 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/539127 |
| 推荐引用方式 GB/T 7714 | David Thesmar,Augustin Landier,David Sraer. DP10295 Banking Integration and House Price Comovement. 2014. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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