کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
5055053 | 1371481 | 2012 | 7 صفحه PDF | دانلود رایگان |
![عکس صفحه اول مقاله: Comovements among U.S. state housing prices: Evidence from fractional cointegration Comovements among U.S. state housing prices: Evidence from fractional cointegration](/preview/png/5055053.png)
This study investigates the relationship between U.S. state housing prices and overall U.S. housing prices as well as the relationship among state housing prices using fractional integration and cointegration techniques. The results based on parametric and semiparametric estimators reveal that some states contain unit roots though we fail to find cointegrating relations between U.S. states housing prices and the overall U.S. housing prices as well as among state housing prices. The results raise doubts regarding the long-run convergence in U.S. state housing prices and the presence of the ripple effect.
⺠There is evidence in favor of unit roots in eight U.S. housing prices ⺠In some U.S. states, the unit root hypothesis is rejected. ⺠Comovements between state and national housing prices are not accepted.
Journal: Economic Modelling - Volume 29, Issue 3, May 2012, Pages 936-942