dc.contributor.author |
Apergis, Nicholas
|
|
dc.contributor.author |
Simo-Kengne, Beatrice Desiree
|
|
dc.contributor.author |
Gupta, Rangan
|
|
dc.contributor.author |
Chang, Tsangyao
|
|
dc.date.accessioned |
2016-02-16T08:18:05Z |
|
dc.date.issued |
2015-10 |
|
dc.description.abstract |
This paper investigates the long-run and short-term dynamics of 351 US metropolitan
statistical area housing prices in relation to personal income. We apply a panel cointegration approach on
annual data from 1993 to 2011 and find a long-run relationship between local house prices and per capita
personal income. The causal direction is then assessed based on an autoregressive distributed lag
specification that also accommodates for error-correction. Results from Granger-causality tests reveal the
existence of a bi-directional causality between real house prices and real per capita personal income over
both long- and short-horizons. We conclude that changes in personal income can predict house price
movements and vice versa. |
en_ZA |
dc.description.embargo |
2017-04-30 |
|
dc.description.librarian |
hb2015 |
en_ZA |
dc.description.uri |
http://www.tandfonline.com/loi/tspm20 |
en_ZA |
dc.identifier.citation |
Nicholas Apergis, Beatrice D. Simo-Kengne, Rangan Gupta & Tsangyao Chang (2015) The dynamic relationship between house prices and output: evidence from US metropolitan areas, International Journal of Strategic Property Management, 19:4, 336-345, DOI:10.3846/1648715X.2015.1072857. |
en_ZA |
dc.identifier.issn |
1648-715X (print) |
|
dc.identifier.issn |
1648-9179 (online) |
|
dc.identifier.other |
10.3846/1648715X.2015.1072857 |
|
dc.identifier.uri |
http://hdl.handle.net/2263/51402 |
|
dc.language.iso |
en |
en_ZA |
dc.publisher |
Taylor and Francis |
en_ZA |
dc.rights |
© 2015 Vilnius Gediminas Technical University (VGTU) Press. This is an electronic version of an article published in International Journal of Strategic Property Management, vol.19, no. 4, pp. 336-345, 2015. doi : 10.3846/1648715X.2015.1072857. International Journal of Strategic Property Management is available online at : http://www.tandfonline.comloi/tspm2 . |
en_ZA |
dc.subject |
Real house prices |
en_ZA |
dc.subject |
Real personal income per capita |
en_ZA |
dc.subject |
Panel cointegration |
en_ZA |
dc.subject |
Panel causality |
en_ZA |
dc.title |
The dynamic relationship between house prices and output : evidence from US metropolitan areas |
en_ZA |
dc.type |
Postprint Article |
en_ZA |