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- W3123245845 abstract "In this paper we examine long-run house price convergence across US states using a novel econometric approach advocated by Pesaran (2007) and Pesaran et al. (2009). Our empirical modelling strategy employs a probabilistic test statistic for convergence based on the percentage of unit root rejections among all state house price differentials. Using a sieve bootstrap procedure, we construct confidence intervals and find evidence in favour of convergence. We also conclude that speed of adjustment towards long-run equilibrium is inversely related to distance." @default.
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- W3123245845 date "2011-07-01" @default.
- W3123245845 modified "2023-09-27" @default.
- W3123245845 title "Investigating Regional House Price Convergence in the United States: Evidence from a pair-wise approach" @default.
- W3123245845 hasPublicationYear "2011" @default.
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