| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w9262 |
| 来源ID | Working Paper 9262 |
| Determinants of Real House Price Dynamics | |
| Dennis R. Capozza; Patric H. Hendershott; Charlotte Mack; Christopher J. Mayer | |
| 发表日期 | 2002-10-10 |
| 出版年 | 2002 |
| 语种 | 英语 |
| 摘要 | We explore the dynamics of real house prices by estimating serial correlation and mean reversion coefficients from a panel data set of 62 metro areas from 1979-1995. The serial correlation and reversion parameters are then shown to vary cross sectionally with city size, real income growth, population growth, and real construction costs. Serial correlation is higher in metro areas with higher real income, population growth and real construction costs. Mean reversion is greater in large metro areas and faster-growing cities with lower construction costs. Empirically, substantial overshooting of prices can occur in high real construction cost areas, which have high serial correlation and low mean reversion, such as the coastal cities of Boston, New York, San Francisco, Los Angeles and San Diego. |
| 主题 | Financial Economics ; Portfolio Selection and Asset Pricing ; Regional and Urban Economics ; Real Estate |
| URL | https://www.nber.org/papers/w9262 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/566875 |
| 推荐引用方式 GB/T 7714 | Dennis R. Capozza,Patric H. Hendershott,Charlotte Mack,et al. Determinants of Real House Price Dynamics. 2002. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w9262.pdf（514KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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