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Testing for bubbles in housing markets: a panel data approach
- 1. 0326418 - NHU-N 2010 RIV US eng J - Journal Article
Mikhed, V. - Zemčík, Petr
Testing for bubbles in housing markets: a panel data approach.
Journal of Real Estate Finance and Economics. Roč. 38, č. 4 (2009), s. 366-386. ISSN 0895-5638
R&D Projects: GA MŠk LC542
Institutional research plan: CEZ:AV0Z70850503
Keywords : house prices * cointegration * panel data
Subject RIV: AH - Economics
Impact factor: 0.659, year: 2009
We employ recently developed cross-sectionally robust panel data tests for unit roots and cointegration to find whether house prices reflect house related earnings. We use U.S. data for Metropolitan Statistical Areas, with house price measured by the weighted-repeated-sales index and cash-flows by market tenants' rents.
Permanent Link: http://hdl.handle.net/11104/0173527