The Correlation between Monetary Policy and Housing Price Change Based on a VAR Model

Table 6

Table of the variance breakdown of real estate prices.

Period	S.E.	LNY	D(LNX1)	D(LNX2)
1	0.0101	100.0000	0.000000	0.0000
2	0.0192	97.2638	0.1191	2.6171
3	0.0255	94.2916	0.7319	4.9765
4	0.0290	88.7940	1.5121	9.6940
5	0.0310	80.6483	1.3280	18.0237
6	0.0326	73.3941	2.9602	23.6457
7	0.0338	69.8970	5.6382	24.4649
8	0.0346	68.4683	7.6201	23.9116
9	0.0351	67.4528	9.1061	23.4412
10	0.0352	66.8783	9.8898	23.2319
11	0.0353	66.8983	9.9339	23.1678
12	0.0355	67.2197	9.8540	22.9263
13	0.0357	67.4683	9.7601	22.7716
14	0.0359	67.5033	9.6782	22.8185
15	0.0359	67.3772	9.6349	22.9878
16	0.0360	67.1596	9.6299	23.2105
17	0.036117	66.95296	9.7209	23.3261
18	0.036173	66.84415	9.8486	23.3073
19	0.036199	66.80092	9.9214	23.2777
20	0.0362	66.7772	9.9545	23.2683

Data source: Eviews 10 software calculation.