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Please use this identifier to cite or link to this item: https://dspace.lboro.ac.uk/2134/24129

Title: Spillovers from the oil sector to the housing market cycle
Authors: Agnello, Luca
Castro, Vitor
Hammoudeh, Shawkat
Sousa, Ricardo M.
Keywords: Housing booms and busts
Normal times
Duration analysis
Oil prices
Issue Date: 2016
Publisher: © Elsevier
Citation: AGNELLO, L. ... et al, 2016. Spillovers from the oil sector to the housing market cycle. Energy Economics, 61, pp. 209-220.
Abstract: We assess the spillovers from the oil sector to the housing market cycle using quarterly data for 20 net oil-exporting and -importing industrial countries, and employing continuous- and discrete-time duration models. We do not uncover a statistically significant difference in the average duration of booms and normal times in the housing markets of those net oil-importers and net oil-exporters. Similarly, the degree of exposure to commodity price fluctuations does not seem to significantly affect the housing market cycle. However, we find that housing booms are shorter when oil prices increase than housing busts when oil prices decrease. We also show that the net oil-importers are more vulnerable to protracted housing slump episodes than the net-oil exporters.
Description: This paper is closed access until 20th May 2018.
Version: Accepted for publication
DOI: 10.1016/j.eneco.2016.11.004
URI: https://dspace.lboro.ac.uk/2134/24129
Publisher Link: http://dx.doi.org/10.1016/j.eneco.2016.11.004
ISSN: 0140-9883
Appears in Collections:Closed Access (Economics)

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