.../approach Monthly data from January 1991 to July 2023 and various appropriate analytical tools such as unit root tests, Johansen’s cointegration test, vector error correction model (VECM), impulse response function and Granger causality test were applied for the data analysis. Findings The Johansen...

.... Real estate market Stock market Integration VECM Portfolio implications Plot market F21 G11 G15 R51 The real estate and stock markets provide investment opportunities to individual and institutional investors worldwide. The stocks are the highly liquid and convenient investment...

... speculation, an upward price trend, high expectations and a large number of untaxed transactions. In this study, two vector error correction models (VECM) are built: one VECM includes survey-based expectations and another one encompasses model-based expectations with the assumption that property...

... the demand for an object is a function of the income of the prospective purchaser and the price of the object or service in relation to other prices. Wage Housing prices VECM Rents Construction cost Oslo E21, E22, G12, R21, R31 Ayuso and Restoy (2006) use a general intertemporal asset...