House prices and mortgage credit: Empirical evidence for Ireland – An update
This QEC Research Note was subject to refereeing prior to publication. The authors are solely responsible for the content and the views expressed.
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In the Quarterly Economic Commentary Research Note ‘House prices and mortgage credit: Empirical evidence for Ireland – An update’, the relationship between mortgage credit and house prices in the Irish residential market is examined. Models for house prices and mortgage credit are estimated. The results indicate that a strong mutually reinforcing relationship exists between mortgage credit and house prices, with movements in one variable likely to cause movements in the other.