Microeconometrics & Public Policy seminar series | Property Price Dynamics and Asymmetric Effects of Economic Policy Uncertainty: New Evidence from the Australian Capital Cities by IKM Mokhtarul Wadud
Invites you to a
Microeconometrics & Public Policy seminar presented by
(University of Sydney)
Property Price Dynamics and Asymmetric Effects of Economic Policy Uncertainty: New Evidence from the Australian Capital Cities
Friday 12 August
12.00pm – 1.00pm
Via Zoom: Meeting Link
Abstract: This paper examines the long-run relationship between residential property prices and economic policy uncertainty (EPU) in seven Australian capital cities. Using the panel nonlinear ARDL model, we analyse the asymmetric effect of EPU on Australian house and apartment (unit) prices over the period 2001-2021. The EPU is found to affect property prices negatively, however, the effects of the positive changes in EPU are larger than those of the negative changes in EPU. The evidence of asymmetric effects is particularly strong for unit prices. Our results reveal that interest rates, construction costs, and housing loans also drive the long-run price trends.
For further information contact: Microeconometrics & Public Policy Seminar Coordinator Dr Rebecca McKibbin (rebecca.mckibbin@sydney.edu.au)
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