Further Evidence on the Spatio-Temporal Model of House Prices in the United States

• Main Authors: BALTAGI, Badi H., LI, Jing
• 格式: text
• 語言: English
• 出版: Institutional Knowledge at Singapore Management University 2014
• 主題: House Prices; Cointegration; Cross-Sectional Dependence; Public Economics; Real Estate
• 在線閱讀: https://ink.library.smu.edu.sg/soe_research/1543; https://ink.library.smu.edu.sg/context/soe_research/article/2542/viewcontent/FurtherEvidenceSpatio_TemporalModelHousePricesUS_pp.pdf

Holly, Pesaran, and Yamagata (Journal of Econometrics 2010; 158: 160–173) use a panel of 49 states over the period 1975–2003 to show that state-level real housing prices are driven by economic fundamentals, such as real per capita disposable income, as well as by common shocks, such as changes in in...