Securitised Real Estate and Private Dwellings: International and Domestic Linkages and Implications for the Macroeconomy.

房地产市场的周期及其与其他经济和金融市场变量的相互作用可能会对澳大利亚经济产生巨大影响。尽管如此，关于房地产和宏观经济之间相互作用的研究很少。这个项目研究了这些问题。这项研究的影响延伸到三个广泛的领域。首先是通过了解房价、通胀和利率之间的联系来实施货币政策。其次，构建包括住房在内的正式模型可能提供一种手段来测试政策的影响，如首套房主补贴或住房特定税收减免。最后，通过了解房地产在多元化投资组合中的作用，金融市场可能会受益。

Cycles in the housing market and its interaction with other economic and financial market variables may have enormous effects on the Australian economy. Despite this there is little research on the interactions between housing and the macroeconomy. This project examines these issues. The implications of the research extend to three broad areas. The first is monetary policy by understanding housing prices, inflation and interest rates linkages. Second, constructing formal models including housing may provide a means of testing the implications of policies such as the first home owner grant or reductions in housing specific taxes. Finally, financial markets may benefit by understanding of the role of property in a diversified portfolio.