Asymmetric behaviour of spanish regional house prices

International Advances in Economic Research

Volumn 14, Issue 4, 2008, Pages 407-421

  Larraz Iribas, Beatriz ^a   Alfaro Navarro, Jose Luis ^a  

^a UNIVERSITY OF CASTILLA LA MANCHA   (Spain)

Author keywords

Co integration; Convergence; House prices; Long run equilibrium; Unit root

Indexed keywords

EID: 55249090856     PISSN: 10830898     EISSN: 1573966X     Source Type: Journal    
DOI: 10.1007/s11294-008-9166-7     Document Type: Article

References (35)

1. Abelson, P., Joyeux, R., Milunovich, G., & Chung, D. (2005). Explaining house prices in Australia: 1970-2003. The Economic Record, 81(255), 96-103 August.
2. Annett, A. (2005). Euro area policies: Selected issues. IFM country Report No.05/266, August.
3. Cancelo, J. R., & Espasa, A. (2000). Análisis cuantitativo de los precios de la vivienda: Principales resultados e implicaciones sobre el funcionamiento del mercado de la vivienda en España. Documento de Trabajo de la Universidad Carlos III, DT00-02, February.
4. Cook, S. (2003). The convergence of regional house prices in the UK. Urban Studies, 40(11), 2285-2294 October.
5. Davidson, R., & MacKinnon, J. G. (1993). Estimation and Inference in Econometrics pp. 700-730. New York: Oxford University Press.
6. Dickey, D. A., & Fuller, W. A. (1979). Distribution of the estimators for autoregressive time series with a unit root. Journal of the American Statistical Association, 74(366), 427-431 June.
7. Engle, R. F., & Granger, C. W. J. (1987). Co-integration and error correction: Representation, estimation and testing. Econometrica, 55(2), 251-276 March.
8. Eurostat. (2008).General and Regional Statistics. http://epp.eurostat.ec.europa.eu. Date accessed January 15th, 2008.
9. Fuller, W. A. (1995). Introduction to statistical time series (pp. 546-653, 2nd ed.). New York: Wiley.
10. García-Montalvo, J. (2001). Un análisis empírico del crecimiento del precio de la vivienda en las Comunidades españolas. Revista Valenciana de Economía y Hacienda, 2-II, 117-138 May.
11. Girourard, N., & Blöndal, S. (2001). House prices and economic activity. Economics Department Working Papers No. 279, Paris, France: Organisation for Economic Co-operation and Development.
12. Gujarati, D. N. (2004). Econometria pp. 767-803. México D.F.: McGraw-Hill.
13. Hamilton, J. D. (1994). Time series analysis pp. 475-571. New Jersey: Princeton University Press.
14. Harvey, A. C. (1990). The econometric analysis of time series (pp. 37-84, 2nd ed.). New York: MIT Press.
15. Hayashi, F. (2000). Econometrics pp. 557-619. Princeton, New Jersey: Princeton University Press.
16. Hofman, D. (2005). Kingdom of the Netherlands-Netherlands: Selected Issues. IMF Country Report, No. 05/225, July.
17. Iacoviello, M. (2000). House prices and the macroeconomy in Europe: Results from a structural VAR analysis". Working Paper Series 18. European Central Bank. Frankfurt am Main, Germany.
18. Jacobsen, D. H., & Naug, B. (2005). What drives house prices? Norges Bank Economic Bulletin, 05Q1, 76(1), 29-41 January.
19. MacCarthy, J., & Peach, R. (2004). Are home prices the next bubble? Federal Reserve Bank of New York Economic Policy Review. Federal Reserve Bank of New York, December.
20. MacDonald, R., & Taylor, M. (1993). Regional house prices in Britain: Long-run relationships and short-run dynamics. Scottish Journal of Political Economy, 40(1), 43-55 February.
21. MacKinnon, J. G. (1996). Numerical distribution functions for unit root and cointegration tests. Journal of Applied Econometrics, 11(6), 601-618 November-December.
22. Martínez, J., & Maza, L. A. (2003). Analysis of house prices in Spain. Working Paper Series No. 0307, Banco de España. Madrid, July.
23. Meen, G. (2002). The time-series behaviour of house prices: A transatlantic divide? Journal of Housing Economics, 11(1), 1-23 March.
24. Montañés, A., & Clemente, J. (2005). Un análisis empírico del precio de la vivienda en Aragon y su relación con la renta. Estudios CESA 2005. Consejo Económico y Social de Aragon.
25. Nagahata, T., Saita, Y., Sekine, T., & Tachibana, T. (2004). Equilibrium land prices of Japanese prefectures: A panel cointegration analysis. Bank of Japan working Paper Series 04-E-9, 1-31, July.
26. ECD (2005). Recent house price developments: The role of fundamentals. OECD Economic Outlook, 78.
27. OECD (2006). Economic Survey of Ireland. Policy Brief, Paris.
28. Oikarinen, E. (2005). Is housing overvalued in the Helsinki Metropolitan Area? Keskusteluaiheita Discussion Paper, 992. The Research Institute of the Finnish Economy, October.
29. Phillips, P. C. B., & Perron, P. (1988). Testing for a unit root in time series regression. Biometrika, 75(2), 335-346 September.
30. Said, E., & Dickey, D. A. (1984). Testing for unit roots in autoregressive moving average models of unknown order. Biometrika, 71(3), 599-607 December.
31. Sala, M. (2004). Reflexiones sobre la accesibilidad de la vivienda en las distintas Comunidades Autónomas. Boletín Económico del ICE, 2793, 35-46 January.
32. Sargan, J. D., & Bhargava, A. S. (1983). testing residuals from least squares regression for being generated by the Gaussian random walk. Econometrica, 51(1), 153-174 January.
33. Schnure, C. (2005). United States: Selected issues. IMF Country Report, 05/258, July.
34. Terrones, M., & Otrok, C. (2004). The global house price boom. IMF World Economic Outlook, September.
35. Tsatsaronis, K., & Zhu, H. (2004). What drives housing price dynamics: Cross country evidence. BIS Quarterly Review. Bank for International Settlements, 65-78, March.