A preliminary econometric investigation of the irish housing-market, 1969-1976

Abstract

Precis: Recent modelling developments in the housing economics literature are reviewed and drawn on to construct a national housing model for Ireland. The model is estimated on quarterly data over the' period 1969-1976. The estimation results, with some exceptions, are satisfactory. On the basis of the results it is concluded, tentatively, that policies directed at lowering the cost of housing capital exert a strong influence on house prices but have little effect on output. Finally, some areas for future improve-ments in data construction and model specification are identified.