..., the objective of our study is to investigate the causal relationship between housing market returns and EPU and how it varies over time in Germany by using the novel wavelet coherence techniques for the first time. Economic policy uncertainty Real estate market Hedonic price index C49 E69 R30...

... invalid and biased. Fifth, most of the previous studies on housing and stock markets concentrated on the US and non-European countries such as China, Korea and Singapore. House prices Stock prices Panel causality Households Tobin’s Q Permanent income hypothesis R3 C49 E44 G11...