Economic Policy Uncertainty and House Prices: Evidence from Geographical Regions of England and Wales
研究了经济政策不确定性对英格兰和威尔士10个地区房价的影响，发现长期和短期都有负面作用，对理解英国房价决定因素有帮助。
Abstract This article empirically investigates the effect of the economic policy uncertainty on house prices across 10 different geographical regions of England and Wales. The empirical study is conducted by means of the autoregressive distributed lag bounds cointegration test. Results show a stable long‐run relationship (cointegration) between house prices and its determinants (including economic policy uncertainty) in nine of the regions. Results also evince long‐ and short‐term negative effect of uncertainty to house prices. These results clearly indicate the importance of economic policy uncertainty in the determination of UK house prices and demand.