MEASURING THE DIFFUSION OF HOUSING PRICES ACROSS SPACE AND OVER TIME

被引：59

作者：

Brady, Ryan R. ^{[1
]}

机构：

[1] USN Acad, Dept Econ, Annapolis, MD 21402 USA

来源：

JOURNAL OF APPLIED ECONOMETRICS | 2011年 / 26卷 / 02期

关键词：

MONETARY-POLICY; PANEL-DATA;

D O I：

10.1002/jae.1118

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

How fast and how long (and to what magnitude) does a change in housing prices in one region affect its neighbors? In this paper, I apply a time series technique for measuring impulse response functions from local projections to a spatial autoregressive model of housing prices. For a dynamic panel of California counties, the data reveal that the diffusion of regional housing prices across space lasts up to two and half years. This result, and the econometric techniques employed, should be of interest not only to housing and regional economists, but to a variety of applied econometricians as well. Copyright. (c) 2009 John Wiley & Sons, Ltd.

引用

页码：213 / 231

页数：19