Taylor, J. B. (2009). The Financial Crisis and the Policy Responses: An Empirical Analysis of What Went Wrong. NBER Working Paper Series No. 14631, National Bureau of Economic Research.
https://doi.org/10.3386/w14631
https://www.nber.org/papers/w14631

has been cited by the following article:

• TITLE: The Impact of Gambling Gross Income, Unemployment Rate, Money Supply and CPI on Residential Housing Value in Macau: Theory and Evidence

  AUTHORS: Ting Lan

  KEYWORDS: VAR, Granger Causality Test, Generalized Impulse Response Function, Variance Decomposition and Co-Integration Test

  JOURNAL NAME: Theoretical Economics Letters, Vol.11 No.6, November 12, 2021

  ABSTRACT: This paper uses the classical and easy-to-understand Vector Auto-regression Model Method to study the impact of economic and monetary policy variables on the residential property market in Macau. By using sample monthly data from Jan. 2005 to May 2021, the empirical results show the dynamic relationship among the residential property value, key economic and monetary variables. Furthermore, adopting the Granger causality test, generalized impulse response function, variance decomposition and co-integration test of the corresponding VAR specification, the tables and graphs clearly explain the residential housing value has a positive relationship with the gambling gross income; it has a negative relationship with the unemployment rate; it has a positive relationship with the money supply; it has a negative relationship with the consumer price index. Finally, this paper gives five policy actions to help government stabilize the residential property market in Macau and make it healthy develop.