Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
5097937 | The Journal of Economic Asymmetries | 2008 | 24 Pages |
Abstract
The real estate market generates much literature because it is an issue of utmost importance. The rise in house prices is one of the issues that has raised a great deal of concern among the general public. This paper analyzes the asymmetric behaviour of real house prices among Spanish regions, using univariate and multivariate techniques to study their long-run relationships. Results indicate some evidence of cointegration, which suggests a broad grouping of regions based on physical proximity or similar economic characteristics. The Johansen cointegration test reveals the region that has the greatest influence on long-run equilibrium among those with whom it shares a border.
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Beatriz Larraz-Iribas, Jose-Luis Alfaro-Navarro, Francisco Rodriguez-Aragon,