Research Discussion Paper – RDP 2004-08 Housing Construction Cycles and Interest Rates

Contents

• Introduction
• Housing Investment Cycles in Developed Countries
• Models of Housing Demand and Supply
• Empirical Estimates
• Discussion of Results
• Conclusion
• Appendix A: Data Sources
• Appendix B: Econometric Results
• References

The authors are grateful to participants at the 2004 Econometric Society Conference and at an internal Reserve Bank seminar for their helpful comments. Responsibility for any remaining errors rests with the authors. The views expressed in this paper are those of the authors and should not be attributed to the Reserve Bank.