Department or Program
Foreclosures, Housing, Local projection, US state data
Using a local projection method, we estimate the relationship among unemployment, foreclosures, and housing prices. More foreclosures cause a major increase in unemployment and a large decrease in housing prices. Higher housing prices, however, have only small effects on unemployment and foreclosures.
Rana, G.A. and Shea, P. 2015. "Estimating the causal relationship between foreclosures and unemployment during the great recession." Economics Letters. 134: 90-93. https://doi.org/10.1016/j.econlet.2015.06.019
Creative Commons License
This work is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 3.0 License.
This is the author's version of the work. This publication appears in Bates College's institutional repository by permission of the copyright owner for personal use, not for redistribution.
Required Publisher's Statement
Original version is available from the publisher at: https://doi.org/10.1016/j.econlet.2015.06.019