UK house price convergence clubs and spillovers

被引：54
|
作者：
Montagnoli, Alberto [1 ]
Nagayasu, Jun [2 ]
机构：
[1] Univ Sheffield, Dept Econ, Sheffield S10 2TN, S Yorkshire, England
[2] Tohoku Univ, Grad Sch Econ & Management, Sendai, Miyagi 980, Japan
来源：
JOURNAL OF HOUSING ECONOMICS | 2015年 / 30卷
关键词：
Regional house prices; Heterogeneity; Convergence; Spillovers; BEHAVIOR;
D O I：
10.1016/j.jhe.2015.10.003
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
Using a number of advanced statistical methods, this paper analyses the convergence and spillover effects of house prices across UK regions. In contrast to the single steady state often assumed in modern macroeconomic analyses, we find that house prices across UK regions can be grouped into four clusters, confirming the heterogeneity and complexity of the UK housing market. Moreover we document the dynamics of house price spillovers across regions. (C) 2015 Elsevier Inc. All rights reserved.
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页码：50 / 58
页数：9
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