Hull, Isaiah
[VerfasserIn]
;
Olovsson, Conny
[Sonstige Person, Familie und Körperschaft];
Walentin, Karl
[Sonstige Person, Familie und Körperschaft];
Westermark, Andreas
[Sonstige Person, Familie und Körperschaft]
Erschienen in:Sveriges Riksbank Working Paper ; No. 349
Umfang:
1 Online-Ressource (17 p)
Sprache:
Englisch
DOI:
10.2139/ssrn.3114521
Identifikator:
Entstehung:
Anmerkungen:
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments December 1, 2017 erstellt
Beschreibung:
Recent work has shown that microeconomic shocks at the firm and sector level account for a substantial share of output volatility. We examine whether this relationship holds for house price growth volatility, which also declined during the Great Moderation and increased after 2001. Using a novel dataset of all property transactions in Sweden over the 2009-2017 period, we demonstrate that the following are positively associated with house price growth volatility: 1) the employment, income, and output shares of a volatile sector (manufacturing); 2) employment growth volatility; and 3) exposure to idiosyncratic shocks to rms