@article{5336ec33d99b4491a1e9b7a4f9323672,
title = "The differential effects of exchange rate fluctuations on local housing price growth: evidence from Australia",
abstract = "We investigate whether real exchange rate fluctuations contribute to the fluctuations in housing prices differently across local housing markets through the differential compositions of immigrants. We first develop a new measure of the immigrant-weighted local real exchange rate, which varies across areas and over time within Australia. Using this measure and a fixed-effect instrumental variables approach, we find that the growth in local real exchange rate positively affects housing price growth. This positive relationship is mainly driven by urban metropolitan areas.",
keywords = "exchange rate, housing prices, immigration",
author = "Kim, \{Jun Sung\} and Wang, \{Liang Choon\}",
note = "Funding Information: We gratefully acknowledge R. H{\"o}llwieser, F. Knechtli and T. Korzec for providing us with the information on the computational cost of their ensemble A1. Alessandro Cotellucci's and Jens L{\"u}cke's research is funded by the Deutsche Forschungsgemeinschaft (DFG, German Research Foundation) - Projektnummer 417533893/GRK-2575 “Rethinking Quantum Field Theory”. The funding from the European Union's Horizon 2020 research and innovation program under grant agreements No. 813942 and No. 765048, as well as the financial support by SNSF (Project No. 200021\_200866) is grate- fully acknowledged. The authors gratefully acknowledge the computing time granted by the Resource Allocation Board and provided on the supercomputer Lise and Emmy at NHR@ZIB and NHR@G{\"o}ttingen as part of the NHR infrastructure. The calculations for this research were partly conducted with computing resources under the project bep00085 and bep00102. The work was supported by CINECA that granted computing resources on the Marconi supercomputer to the LQCD123 INFN theoretical initiative under the CINECA-INFN agreement. The authors acknowledge access to Piz Daint at the Swiss National Supercomputing Centre, Switzerland under the ETHZ's share with the project IDs go22, go24, eth8, and s1101. The work was supported by the Poznan Supercomputing and Networking Center (PSNC) through grant numbers 450 and 466. Funding Information: Acknowledgements. We gratefully acknowledge R. H{\"o}llwieser, F. Knechtli and T. Korzec for providing us with the information on the computational cost of their ensemble A1. Alessandro Cotellucci{\textquoteright}s and Jens L{\"u}cke{\textquoteright}s research is funded by the Deutsche Forschungsgemeinschaft (DFG, Funding Information: German Research Foundation) - Projektnummer 417533893/ GRK-2575 “Rethinking Quantum Field Theory”. The funding from the European Union{\textquoteright}s Horizon 2020 research and innovation program under grant agreements No. 813942 and No. 765048, as well as the financial support by SNSF (Project No. 200021\_200866) is gratefully acknowledged. The authors gratefully acknowledge the computing time granted by the Resource Allocation Board and provided on the supercomputer Lise and Emmy at NHR@ZIB and NHR@G{\"o}ttingen as part of the NHR infrastructure. The calculations for this research were partly conducted with computing resources under the project bep00085 and bep00102. The work was supported by CINECA that granted computing resources on the Marconi supercomputer to the LQCD123 INFN theoretical initiative under the CINECA-INFN agreement. The authors acknowledge access to Piz Daint at the Swiss National Supercomputing Centre, Switzerland under the ETHZ{\textquoteright}s share with the project IDs go22, go24, eth8, and s1101. The work was supported by the Poznan Supercomputing and Networking Center (PSNC) through grant numbers 450 and 466. Publisher Copyright: {\textcopyright} 2023 Regional Studies Association.",
year = "2024",
doi = "10.1080/00343404.2023.2187044",
language = "English",
volume = "58",
pages = "135--150",
journal = "Regional Studies",
issn = "0034-3404",
publisher = "Taylor \& Francis",
number = "1",
}
SDG 10 Reduced Inequalities
SDG 11 Sustainable Cities and Communities