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- W1981707031 abstract "Abstract Housing choices have almost exclusively been analyzed either by using survey data gathered at a specific point in time or by using time-series of aggregate data. Panel data permits use of both time-series and cross-sectional variation, thereby providing a substantially superior identification and seperation of the various economic and demographic mechanisms underlying housing choice behavior which are often confounded in the snapshot analysis of cross-sectional data and by aggregation in time-series analysis. In this paper, a longitudinal discrete choice model of the choice of housing tenure and size is presented and estimated using five linked cross-sections of the Panel Survey of Income Dynamics, 1977 to 1981. We employ the conditional fixed effects multinomial logit model [FEMNL, Chamberlain (1980)] in order to account for time-invariant heterogeneity across households. These panel data results differ in many respects from results obtained from single and pooled cross-sections. First, price and income elasticities appear substantially overestimated in cross-sectional analysis as opposed to time-series and panel data analysis. Second, life-age effects are confounded by calendar-time specific effects and therefore may yield implausible results in cross-sectional analysis. In general, the influence of demographic variables appears to be understated in cross-sectional estimation." @default.
- W1981707031 created "2016-06-24" @default.
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- W1981707031 date "1990-06-01" @default.
- W1981707031 modified "2023-10-17" @default.
- W1981707031 title "Panel data analysis of housing choices" @default.
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- W1981707031 doi "https://doi.org/10.1016/0166-0462(90)90025-x" @default.
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