메뉴 건너뛰기




Volumn 39, Issue 3, 2009, Pages 264-283

Trends, cycles and convergence in U.S. regional house prices

Author keywords

Convergence; Regional house prices; Structural time series models; Trends and cycles; Unobserved components

Indexed keywords


EID: 84859628692     PISSN: 08955638     EISSN: None     Source Type: Journal    
DOI: 10.1007/s11146-009-9183-1     Document Type: Article
Times cited : (72)

References (42)
  • 1
    • 0001461997 scopus 로고    scopus 로고
    • Bubbles in metropolitan housing markets
    • Abraham, J. M., & Hendershott, P. H. (1996). Bubbles in metropolitan housing markets. J Hous Res, 7, 191-207.
    • (1996) J Hous Res , vol.7 , pp. 191-207
    • Abraham, J.M.1    Hendershott, P.H.2
  • 5
    • 1842591235 scopus 로고    scopus 로고
    • Determinants of real house price dynamics
    • doi:10.1111/j.1080-8620.2004.00082.x
    • Capozza, D. R., Hendershott, P. H., Mack, P. H., & Mayer, C. J. (2004). Determinants of real house price dynamics. Real Estate Econ, 32, 1-32. doi:10.1111/j.1080-8620.2004.00082.x.
    • (2004) Real Estate Econ , vol.32 , pp. 1-32
    • Capozza, D.R.1    Hendershott, P.H.2    Mack, P.H.3    Mayer, C.J.4
  • 6
    • 26944432315 scopus 로고    scopus 로고
    • Growth, cycles and convergence in US regional time series
    • doi:10.1016/j.ijforecast.2005.04.017
    • Carvalho, V. M., & Harvey, A. C. (2005a). Growth, cycles and convergence in US regional time series. Int J Forecast, 21, 667-686. doi:10.1016/j.ijforecast.2005.04.017.
    • (2005) Int J Forecast , vol.21 , pp. 667-686
    • Carvalho, V.M.1    Harvey, A.C.2
  • 7
    • 20744439398 scopus 로고    scopus 로고
    • Convergence in the trends and cycles of Euro-zone income
    • doi:10.1002/jae.820
    • Carvalho, V. M., & Harvey, A. C. (2005b). Convergence in the trends and cycles of Euro-zone income. J Appl Econ, 20, 275-289. doi:10.1002/jae.820.
    • (2005) J Appl Econ , vol.20 , pp. 275-289
    • Carvalho, V.M.1    Harvey, A.C.2
  • 9
    • 84993111587 scopus 로고    scopus 로고
    • An analysis of the trends and cyclical behaviors of house prices in the Asian markets
    • doi:10.1108/14635780410525144
    • Chen, M. C., Kawaguchi, Y., & Patel, K. (2004). An analysis of the trends and cyclical behaviors of house prices in the Asian markets. J Property Invest Finance, 22, 55-75. doi:10.1108/14635780410525144.
    • (2004) J Property Invest Finance , vol.22 , pp. 55-75
    • Chen, M.C.1    Kawaguchi, Y.2    Patel, K.3
  • 10
    • 33646177205 scopus 로고    scopus 로고
    • Common structural time series components in inflation and residential property prices
    • Chen, M. C., & Sing, T. F. (2006). Common structural time series components in inflation and residential property prices. J Real Estate Portfol Manage, 12, 23-36.
    • (2006) J Real Estate Portfol Manage , vol.12 , pp. 23-36
    • Chen, M.C.1    Sing, T.F.2
  • 11
    • 77949301505 scopus 로고    scopus 로고
    • Structural breaks and the convergence of regional house prices
    • doi:10.1007/s11146-008-9138-y
    • Chien, M. S. (2008). Structural breaks and the convergence of regional house prices. J Real Estate Finance Econ, doi:10.1007/s11146-008-9138-y.
    • (2008) J Real Estate Finance Econ
    • Chien, M.S.1
  • 12
    • 85036258669 scopus 로고
    • Distribution of the estimators for autoregressive time series with unit root
    • doi:10.2307/2286348
    • Dickey, D. A., & Fuller, W. A. (1979). Distribution of the estimators for autoregressive time series with unit root. J Am Stat Assoc, 74, 427-431. doi:10.2307/2286348.
    • (1979) J Am Stat Assoc , vol.74 , pp. 427-431
    • Dickey, D.A.1    Fuller, W.A.2
  • 13
    • 0002825953 scopus 로고
    • Housing market dynamics and the future of housing
    • doi:10.1006/juec.1994.1001
    • DiPasquale, D., & Wheaton, W. (1994). Housing market dynamics and the future of housing. J Urban Econ, 35, 1-27. doi:10.1006/juec.1994.1001.
    • (1994) J Urban Econ , vol.35 , pp. 1-27
    • Dipasquale, D.1    Wheaton, W.2
  • 14
    • 0029528707 scopus 로고
    • Testing for convergence between UK regional house prices
    • doi:10.1080/00343409512331349023
    • Drake, L. (1995). Testing for convergence between UK regional house prices. Reg Stud, 29, 357-366. doi:10.1080/00343409512331349023.
    • (1995) Reg Stud , vol.29 , pp. 357-366
    • Drake, L.1
  • 15
    • 3543114891 scopus 로고    scopus 로고
    • Alternative methods of increasing the precision of weighted repeat sales house prices indices
    • doi:10.1023/B:REAL.0000018784.25879.1f
    • Drieman, M. H., & Pennington-Cross, A. (2004). Alternative methods of increasing the precision of weighted repeat sales house prices indices. J Real Estate Finance Econ, 28, 299-317. doi:10.1023/B:REAL.0000018784.25879.1f.
    • (2004) J Real Estate Finance Econ , vol.28 , pp. 299-317
    • Drieman, M.H.1    Pennington-Cross, A.2
  • 16
    • 0030117309 scopus 로고    scopus 로고
    • Convergence revisited
    • Evans, P., & Karras, G. (1996). Convergence revisited. J Monet Econ, 37, 249-265.
    • (1996) J Monet Econ , vol.37 , pp. 249-265
    • Evans, P.1    Karras, G.2
  • 17
    • 65549154390 scopus 로고    scopus 로고
    • A multivariate unobserved component analysis of U.S. housing market
    • Fadiga, M. L., & Wang, Y. (2009). A multivariate unobserved component analysis of U.S. housing market. J Finance and Economics, 33, 13-26.
    • (2009) J Finance and Economics , vol.33 , pp. 13-26
    • Fadiga, M.L.1    Wang, Y.2
  • 19
    • 33749339437 scopus 로고    scopus 로고
    • Finance and Economics Discussion Series, 2004-50. Washington, DC: Board of Governors of the Federal Reserve System
    • Gallin, J. (2004). The long-run relationship between house prices and rents. Finance and Economics Discussion Series, 2004-50. Washington, DC: Board of Governors of the Federal Reserve System.
    • (2004) The Long-run Relationship Between House Prices and Rents
    • Gallin, J.1
  • 20
    • 33747226095 scopus 로고    scopus 로고
    • The long-run relationship between house prices and income
    • Gallin, J. (2006). The long-run relationship between house prices and income. Real Estate Econ, 34, 417-438.
    • (2006) Real Estate Econ , vol.34 , pp. 417-438
    • Gallin, J.1
  • 21
    • 0003406531 scopus 로고
    • 3rd ed.). Chicago, IL: University of Chicago Press
    • Harman, H. H. (1976). Modern factor analysis (3rd ed.). Chicago, IL: University of Chicago Press.
    • (1976) Modern Factor Analysis
    • Harman, H.H.1
  • 23
    • 67649359699 scopus 로고    scopus 로고
    • Forecasting with unobserved components time series models
    • G. Elliott (Ed.), The Netherlands: Elsevier
    • Harvey, A. C. (2006). Forecasting with unobserved components time series models. In G. Elliott (Ed.), Handbook of economic forecasting. The Netherlands: Elsevier.
    • (2006) Handbook of Economic Forecasting
    • Harvey, A.C.1
  • 25
    • 84986397960 scopus 로고
    • Detrending, stylized facts and the business cycle
    • doi:10.1002/jae.3950080302
    • Harvey, A. C., & Jaeger, A. (1993). Detrending, stylized facts and the business cycle. J Appl Econ, 8, 231-241. doi:10.1002/jae.3950080302.
    • (1993) J Appl Econ , vol.8 , pp. 231-241
    • Harvey, A.C.1    Jaeger, A.2
  • 26
    • 0034406418 scopus 로고    scopus 로고
    • Asymptotically perfect and relative convergence of productivity
    • doi:10.1002/(SICI)1099-1255(200001/02)15:1<59::AID-JAE544>3.0.CO;2-1
    • Hobijn, B., & Frances, P. H. (2000). Asymptotically perfect and relative convergence of productivity. J Appl Econ, 15, 59-81. doi:10.1002/(SICI)1099-1255(200001/02)15:1<59::AID-JAE544>3.0.CO;2-1.
    • (2000) J Appl Econ , vol.15 , pp. 59-81
    • Hobijn, B.1    Frances, P.H.2
  • 27
    • 33746319444 scopus 로고    scopus 로고
    • Economic fundamentals in local housing markets
    • doi:10.1111/j.1467-9787.2006.00480.x
    • Hwang, M., & Quigley, J. M. (2006). Economic fundamentals in local housing markets. J Reg Sci, 46, 425-453. doi:10.1111/j.1467-9787.2006.00480.x.
    • (2006) J Reg Sci , vol.46 , pp. 425-453
    • Hwang, M.1    Quigley, J.M.2
  • 28
    • 0013498103 scopus 로고    scopus 로고
    • Testing for unit roots in heterogeneous panels
    • doi:10.1016/S0304-4076(03)00092-7
    • Im, K. S., Pesaran, M. H., & Shin, Y. (2003). Testing for unit roots in heterogeneous panels. J Econom, 115, 53-74. doi:10.1016/S0304-4076(03)00092-7.
    • (2003) J Econom , vol.115 , pp. 53-74
    • Im, K.S.1    Pesaran, M.H.2    Shin, Y.3
  • 31
    • 0000391884 scopus 로고    scopus 로고
    • Unit root tests in panel data
    • doi:10.1016/S0304-4076(01)00098-7
    • Levin, A., Lu, C. F., & Lu, C. S. (2002). Unit root tests in panel data. J Econom, 108, 1-24. doi:10.1016/S0304-4076(01)00098-7.
    • (2002) J Econom , vol.108 , pp. 1-24
    • Levin, A.1    Lu, C.F.2    Lu, C.S.3
  • 32
    • 17444421292 scopus 로고    scopus 로고
    • Regional (di)convergence
    • V. Henderson & Thisse, J-F. eds., North Holland
    • Magrini S (2004). Regional (di)convergence. In V. Henderson & Thisse, J-F. eds., Handbook of regional and urban economics, vol. 4. North Holland.
    • (2004) Handbook of Regional and Urban Economics , vol.4
    • Magrini, S.1
  • 33
    • 0002894295 scopus 로고    scopus 로고
    • A simple error correction model of house prices
    • doi:10.1006/jhec.1999.0240
    • Malpezzi, S. (1999). A simple error correction model of house prices. J Hous Econ, 8, 27-62. doi:10.1006/jhec.1999.0240.
    • (1999) J Hous Econ , vol.8 , pp. 27-62
    • Malpezzi, S.1
  • 34
    • 0003010126 scopus 로고
    • The removal of mortgage market constraints and the implications for econometric modeling of UK house prices
    • Meen, G. (1990). The removal of mortgage market constraints and the implications for econometric modeling of UK house prices. Oxf Bull Econ Stat, 52, 1-24.
    • (1990) Oxf Bull Econ Stat , vol.52 , pp. 1-24
    • Meen, G.1
  • 35
    • 0036246275 scopus 로고    scopus 로고
    • The time-series behavior of house prices: A transatlantic divide?
    • doi:10.1006/jhec.2001.0307
    • Meen, G. (2002). The time-series behavior of house prices: a transatlantic divide? J Hous Econ, 11, 1-23. doi:10.1006/jhec.2001.0307.
    • (2002) J Hous Econ , vol.11 , pp. 1-23
    • Meen, G.1
  • 36
    • 0031787555 scopus 로고    scopus 로고
    • On the aggregate housing market implications of labour market change
    • doi:10.1111/1467-9485.00105
    • Meen, G., & Andrew, M. (1998). On the aggregate housing market implications of labour market change. Scott J Polit Econ, 45, 93-419. doi:10.1111/1467-9485.00105.
    • (1998) Scott J Polit Econ , vol.45 , pp. 93-419
    • Meen, G.1    Andrew, M.2
  • 37
    • 58749107119 scopus 로고    scopus 로고
    • States and the business cycle
    • doi:10.1016/j.jue.2008.11.001
    • Owyang, M. T., Rapach, D. E., & Wall, H. J. (2009). States and the business cycle. J Urban Econ, 65, 181-194. doi:10.1016/j.jue.2008.11.001.
    • (2009) J Urban Econ , vol.65 , pp. 181-194
    • Owyang, M.T.1    Rapach, D.E.2    Wall, H.J.3
  • 38
    • 0001116866 scopus 로고    scopus 로고
    • Housing price diffusion patterns at different aggregation levels
    • Pollakowski, H. O., & Ray, T. S. (1997). Housing price diffusion patterns at different aggregation levels. J Hous Res, 8, 107-124.
    • (1997) J Hous Res , vol.8 , pp. 107-124
    • Pollakowski, H.O.1    Ray, T.S.2
  • 39
    • 0001419906 scopus 로고
    • Wages, rents, and the quality of life
    • doi:10.1086/261120
    • Roback, J. (1982). Wages, rents, and the quality of life. J Polit Econ, 90, 1257-1278. doi:10.1086/261120.
    • (1982) J Polit Econ , vol.90 , pp. 1257-1278
    • Roback, J.1
  • 40
    • 19044371729 scopus 로고
    • Testing for unit roots in autoregressive moving average models of unknown order
    • doi:10.1093/biomet/71.3.599
    • Said, S. E., & Dickey, D. S. (1984). Testing for unit roots in autoregressive moving average models of unknown order. Biometrika, 71, 599-607. doi:10.1093/biomet/71.3.599.
    • (1984) Biometrika , vol.71 , pp. 599-607
    • Said, S.E.1    Dickey, D.S.2
  • 41
    • 79954946291 scopus 로고    scopus 로고
    • Home prices, by what measure?
    • Wessel D (February 14
    • Wessel D (February 14, 2008). Home prices, by what measure? Wall Street Journal, A2.
    • (2008) Wall Street Journal
  • 42
    • 28444488750 scopus 로고
    • Further evidence on the great crash, the oil-price shock, and the unit root hypothesis
    • doi:10.2307/1391541
    • Zivot, E., & Andrews, D. W. K. (1992). Further evidence on the great crash, the oil-price shock, and the unit root hypothesis. J Bus Econ Stat, 10, 251-270. doi:10.2307/1391541.
    • (1992) J Bus Econ Stat , vol.10 , pp. 251-270
    • Zivot, E.1    Andrews, D.W.K.2


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.