Macro-determinants of the Lithuanian housing market: a test for Granger causality
LTReikšminiai žodžiai: Būsto rinka; Causality; Determinants; Granger; Housing; Index; Lithuania; Macro; Market.
ENThis research examines the macro-determinants of the Lithuanian housing market. The study employs the Granger causality test to assess the interdependence of a number of macro-variables and the national housing price index. Regardless of the limitations involved with this methodology, the empirical findings suggest that the Lithuanian housing market relates to growth in building activity, interest rates, inflation, and employment. Considering all of these results, the research highlights useful policy implications for property market participants. Investors and developers can employ this information to guide their investment decisions. Likewise, the government and central bank could use this updated knowledge to drive a successful macroeconomic program. [From the publication]
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