22.12.2023 New Publication: House prices and labour productivity growth: Evidence from OECD countries

What is the effect of house price appreciation and growth in property investment on labor productivity? Theoretical debates show a mixed relationship!

In a new joint research published in the 'Construction Management and Economics' (Taylor & Francis Group), Professor Farzanegan with Dr. Hassan Gholipour Fereidouni &  Dr. Mohammed Abu Alfoul examine the association between real house prices and labour productivity growth in 24 OECD countries over the period 1972–2019.

Study finds that an increase in real house prices has a significant and negative impact on labour productivity growth in the long run across countries. Authors also find that the link between house prices and labour productivity is not homogenous across OECD countries and the significance and magnitude of the effect depends on the complexity of economies.

Study is available open access via https://doi.org/10.1080/01446193.2023.2291082