On the likely extent of falls in Irish house prices

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dc.contributor.author Kelly, Morgan
dc.date.accessioned 2007-09-27T15:49:39Z
dc.date.available 2007-09-27T15:49:39Z
dc.date.issued 2007-02
dc.identifier.uri http://hdl.handle.net/10197/38
dc.description.abstract Looking at house price cycles across the OECD since 1970, we find a strong relationship between the size of the initial rise in price and its subsequent fall. Were this relationship to hold for Ireland, it would predict falls of real house prices of 40 to 60 per cent over a period of 8 to 9 years. House price falls tend not to have serious macroeconomic consequences, but the unusually large size of the Irish house building industry suggest that any significant house price fall that does occur could impose a difficult adjustment on the economy.
dc.format.extent 104915 bytes
dc.format.mimetype application/pdf
dc.language.iso en en
dc.publisher University College Dublin; School of Economics en
dc.relation.ispartofseries UCD Centre of Economic Research working paper series 2007 en
dc.relation.ispartofseries WP07/01 en
dc.subject.lcsh Housing--Prices en
dc.subject.lcsh Construction industry--Ireland en
dc.title On the likely extent of falls in Irish house prices en
dc.type Working Paper en
dc.internal.authorurl Morgan Kelly (web page) en
dc.internal.authorurl http://www.ucd.ie/economics/staff/mkelly/ en
dc.internal.authorcontactother Email: morgan.kelly@ucd.ie; Tel: +353 1 7168611 en
dc.internal.authorid UCD0013 en
dc.internal.availability Full text available en
dc.status Not peer reviewed en
dc.neeo.contributor Kelly|Morgan|aut|UCD0013


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