Publication: Online Appendix to News-driven housing booms: Spain vs. Germany
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2022-09
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Abstract
This Online Appendix completes the contents of the paper News-driven housing booms: Spain vs. Germany, by Guinea, Puch and Ruiz (2022). Those contents are organized along sections E to F below, following appendixes A to D in the main text. In particular, here we provide results for: (E) Alternative VAR Identification and Alternative Shocks; (F) Responses to the different shocks in the theoretical model; and (G) A detailed characterization of the two-sector model with home production and Investment Specific Technical Change (ISTC). Refer to the journal article DOI: 10.1515/bejm-2021-0116 in The B.E. Journal of Macroeconomics for any details on the contents of this Online Appendix. A permanent link to this document is at Online Appendix.
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Agradecimientos:
We thank Antonia Díaz, Juan Jimeno, Omar Licandro, Franck Portier, José Víctor Ríos-Rull, Miguel Sebastián and Jesús Vázquez for insightful discussions. We also thank the editor and two anonymous reviewers for very helpful comments and suggestions, as well as seminar participants at ICAE-UCM, UPV/EHU, Vigo Workshop 2018, SAEe 2018, EEA 2019 and SMN Workshop 2020. We acknowledge the Spanish Ministerio de Economía y Competitividad (grants ECO2016-76818 and PID2019-107161GB-C32) for financial support.
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Referencias:
Greenwood, J., Hercowitz, Z. and Huffman, G. W. Investment, Capacity Utilization, and the Real Business Cycle. The American Economic Review, 78(3), page 402, 1988.
Guinea, L., Puch, L. A. and Ruiz, J. News-driven housing booms: Spain vs. Germany. The B.E. Journal of Macroeconomics, DOI: 10.1515/bejm-2021-0116, 1–55, 2022.
Jaimovich, N. and Rebelo, S. Can News about the Future Drive the Business Cycle? American Economic Review, 99(4), 1097–1118, 2009.
King, R., Plosser, C. and Rebelo, S. Production, growth and business cycles: I. The basic neoclassical model. Journal of Monetary Economics, 21(2-3), 195–232, 1988.