Izvorni znanstveni članak
https://doi.org/10.1080/1331677X.2022.2121740
Influence of migration policy risk on international market segmentation: analysis of housing and rental markets in the euro area
I-Chun Tsai
Che-Chun Lin
Sažetak
This paper aims to discuss the influence of migration policy risk
on market segmentation of housing and rental markets in the
Euro Area. Policy risk is represented by the Migration Policy
Uncertainty Index (MPUI) and Migration Fear Index (MFI) of
Germany and the United Kingdom; in this study, whether these
indexes influence the interaction between the housing and rental
markets of the two countries and euro-area countries was examined.
The empirical results showed that the influence of the
United Kingdom’s migration policy risk on the euro-area countries
is higher than that of Germany. The United Kingdom’s MPUI and
MFI significantly contribute to the influence of the United
Kingdom’s housing market on other markets except for Belgium
and Spain. Compared with housing market connectedness, the
rental market connectedness is less influenced by migration policy
risk and migration fear. This may be because variables related
to short-term residence policies influence the rental market. The
high policy risk is more likely to influence decisions related to
long-term house purchase, but not those related to short-term
residence. Finally, this study found that the higher the uncertainty
of the migration policies of the United Kingdom and Germany is,
the higher the house market segmentation is.
Ključne riječi
Migration policy uncertainty; migration fear; market segmentation; migration policy risk; housing and rental markets
Hrčak ID:
306473
URI
Datum izdavanja:
31.3.2023.
Posjeta: 412 *