House prices and labour productivity growth : evidence from OECD countries

Hassan F. Gholipour; Mohammad Reza Farzanegan; Mohammed N. Abu Al-Foul

doi:10.1080/01446193.2023.2291082

House prices and labour productivity growth : evidence from OECD countries

Hassan F. Gholipour, Mohammad Reza Farzanegan, Mohammed N. Abu Al-Foul

Western Sydney University

Research output: Contribution to journal › Article › peer-review

Abstract

This study examines the association between real house prices and labour productivity growth in 24 OECD countries over the period 1972–2019. By applying the panel fixed effects and Pooled Mean Group-Autoregressive Distributed Lag (PMG-ARDL) estimators, the results show that labour productivity growth is negatively and significantly associated with real house prices. This finding provides empirical support for the ongoing discussion on the adverse impact of excessive housing market activities on productivity.

Original language	English
Pages (from-to)	582-589
Number of pages	8
Journal	Construction Management and Economics
Volume	42
Issue number	6
DOIs	https://doi.org/10.1080/01446193.2023.2291082
Publication status	Published - 2024

Open Access - Access Right Statement

© 2023 The Author(s). Published by Informa UK Limited, trading as Taylor & Francis Group. This is an Open Access article distributed under the terms of the Creative Commons Attribution-NonCommercial-NoDerivatives License (http://creativecommons.org/licenses/bync-nd/4.0/), which permits non-commercial re-use, distribution, and reproduction in any medium, provided the original work is properly cited, and is not altered, transformed, or built upon in any way. The terms on which this article has been published allow the posting of the Accepted Manuscript in a repository by the author(s) or with their consent.

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Cite this

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abstract = "This study examines the association between real house prices and labour productivity growth in 24 OECD countries over the period 1972–2019. By applying the panel fixed effects and Pooled Mean Group-Autoregressive Distributed Lag (PMG-ARDL) estimators, the results show that labour productivity growth is negatively and significantly associated with real house prices. This finding provides empirical support for the ongoing discussion on the adverse impact of excessive housing market activities on productivity.",

author = "Gholipour, {Hassan F.} and Farzanegan, {Mohammad Reza} and {Abu Al-Foul}, {Mohammed N.}",

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AB - This study examines the association between real house prices and labour productivity growth in 24 OECD countries over the period 1972–2019. By applying the panel fixed effects and Pooled Mean Group-Autoregressive Distributed Lag (PMG-ARDL) estimators, the results show that labour productivity growth is negatively and significantly associated with real house prices. This finding provides empirical support for the ongoing discussion on the adverse impact of excessive housing market activities on productivity.

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House prices and labour productivity growth : evidence from OECD countries

Abstract

Open Access - Access Right Statement

UN SDGs

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