A continuous spatio-temporal model for house prices in the USA

被引：0
作者：
Márcio Poletti Laurini
机构：
[1] FEARP-USP,Department of Economics
[2] CNPQ, FEARP
来源：
The Annals of Regional Science | 2017年 / 58卷
关键词：
C11; C21; C33;
D O I：
暂无
中图分类号：
学科分类号：
摘要：
We revisit the studies on the evolution of house prices in the USA using a spatio-temporal model estimated using a Bayesian method. This method introduces a new specification of an error correction model with random effects measured continuously in space. This model allows observing the deviations from the co-integration relationship in each analyzed location and a clearer interpretation of the house price dynamics between 1975 and 2011 for 381 metropolitan areas in the USA. The results indicate the presence of a housing price cycle, consistent with the patterns observed in the analyzed period.
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页码：235 / 269
页数：34
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