| Autor: |
Conny Olovsson, Karl Walentin, Isaiah Hull, Andreas Westermark |
| Rok vydání: |
2022 |
| Předmět: |
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| Zdroj: |
Review of Economic Dynamics. 45:264-281 |
| ISSN: |
1094-2025 |
| DOI: |
10.1016/j.red.2021.06.005 |
| Popis: |
Using a new dataset of all Swedish housing transactions over the 2009-2017 period, we find that manufacturing's share of employment is positively associated with house price growth volatility and negatively associated with risk-adjusted capital gains. Both effects appear to be related to manufacturing's impact on firm concentration and employment volatility. Moreover, they imply that the manufacturing decline since 1970 could account for a 35% reduction in house price volatility. |
| Databáze: |
OpenAIRE |
| Externí odkaz: |
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Full Text from ScienceDirect