{"title":"房屋开工率和抵押贷款可得性之间的关系","authors":"R. Thom","doi":"10.2307/1924817","DOIUrl":null,"url":null,"abstract":"Sims' innovation-accounting techniques are used to investigate the relationship between housing starts and mortgage availability using U.S. monthly data over 1967-1984. First, a four variable vector autoregression is employed to compute impulse response functions. The results suggest that housing starts are significantly in fluenced by both interest rates and mortgage availability. Second, the estimated vector autoregression is used to compute a historical decomposition of the starts series using 1979(12) as the base period. The decomposition suggests that deregulation and the evolution of more competitive financial markets has led to a significant weakening of availability effects.","PeriodicalId":166342,"journal":{"name":"Open Access publications","volume":"39 1","pages":"0"},"PeriodicalIF":0.0000,"publicationDate":"1985-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"15","resultStr":"{\"title\":\"The relationship between housing starts and mortgage availability\",\"authors\":\"R. Thom\",\"doi\":\"10.2307/1924817\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"Sims' innovation-accounting techniques are used to investigate the relationship between housing starts and mortgage availability using U.S. monthly data over 1967-1984. First, a four variable vector autoregression is employed to compute impulse response functions. The results suggest that housing starts are significantly in fluenced by both interest rates and mortgage availability. Second, the estimated vector autoregression is used to compute a historical decomposition of the starts series using 1979(12) as the base period. The decomposition suggests that deregulation and the evolution of more competitive financial markets has led to a significant weakening of availability effects.\",\"PeriodicalId\":166342,\"journal\":{\"name\":\"Open Access publications\",\"volume\":\"39 1\",\"pages\":\"0\"},\"PeriodicalIF\":0.0000,\"publicationDate\":\"1985-11-01\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"15\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Open Access publications\",\"FirstCategoryId\":\"1085\",\"ListUrlMain\":\"https://doi.org/10.2307/1924817\",\"RegionNum\":0,\"RegionCategory\":null,\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"\",\"JCRName\":\"\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Open Access publications","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.2307/1924817","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
The relationship between housing starts and mortgage availability
Sims' innovation-accounting techniques are used to investigate the relationship between housing starts and mortgage availability using U.S. monthly data over 1967-1984. First, a four variable vector autoregression is employed to compute impulse response functions. The results suggest that housing starts are significantly in fluenced by both interest rates and mortgage availability. Second, the estimated vector autoregression is used to compute a historical decomposition of the starts series using 1979(12) as the base period. The decomposition suggests that deregulation and the evolution of more competitive financial markets has led to a significant weakening of availability effects.