Change search
CiteExportLink to record
Permanent link

Direct link
Cite
Citation style
  • apa
  • harvard1
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
  • rtf
Is there a relationship between oil prices and house price inflation?
Jönköping University, Jönköping International Business School, JIBS, Economics.
Jönköping University, Jönköping International Business School, JIBS, Economics.
2019 (English)Independent thesis Basic level (degree of Bachelor), 10 credits / 15 HE creditsStudent thesis
Abstract [en]

The purpose of this thesis is to investigate further whether oil price has an effect on house price inflation and additionally if it has a link to house price turning points. The methodology is grounded on the previous research paper made by Breitenfellner et al. (2015). The results are based on quarterly data from the countries; Finland, Denmark, Norway and Sweden through the time span of 1990-2018. A linear fixed regression model was performed including the explanatory variables of monetary policy and credit developments, macroeconomic fundamentals, housing market variable and demographic variables. Secondly, a logit model was used to identify a relationship between oil price and house price turning points. The model used misalignment made from GDP per capita and real interest rate.

The empirical analysis confirms that there is a positive relationship between oil prices and house price inflation. This evidence contradicts a major share of previous research papers (see Bernanke, 2010; Kaufmann et al., 2011). However, there are also some previous papers (see Yiqi, (2017); Antonakakis et al., 2016) and theoretical linkages in line with a positive correlation. Concerning, the oil price and house price inflation no empirical significance was found regarding their relationship. For future research, one could include regional aspects for the purpose of controlling for geographical differences.

Place, publisher, year, edition, pages
2019. , p. 41
Keywords [en]
Energy economics, House price inflation, Oil price, House price turning points, Trade status, Linear regression model, Conditional logit model
National Category
Economics
Identifiers
URN: urn:nbn:se:hj:diva-44471ISRN: JU-IHH-NAA-1-20190154OAI: oai:DiVA.org:hj-44471DiVA, id: diva2:1324460
Supervisors
Examiners
Available from: 2019-06-24 Created: 2019-06-13 Last updated: 2019-06-24Bibliographically approved

Open Access in DiVA

fulltext(1290 kB)9 downloads
File information
File name FULLTEXT01.pdfFile size 1290 kBChecksum SHA-512
381388b11fc9d6608851e3191b44b3abd40e6039bd1dd217b2705a701550ec71ed4848e88c16d5944423ab26276d9ec93afc9746021effd5ef84a8fe824d48bf
Type fulltextMimetype application/pdf

By organisation
JIBS, Economics
Economics

Search outside of DiVA

GoogleGoogle Scholar
Total: 9 downloads
The number of downloads is the sum of all downloads of full texts. It may include eg previous versions that are now no longer available

urn-nbn

Altmetric score

urn-nbn
Total: 34 hits
CiteExportLink to record
Permanent link

Direct link
Cite
Citation style
  • apa
  • harvard1
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
  • rtf