Please use this identifier to cite or link to this item: https://ruomo.lib.uom.gr/handle/7000/819
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dc.contributor.authorGabrieli, Tommaso-
dc.contributor.authorPanagiotidis, Theodore-
dc.contributor.authorXu, Yishuang-
dc.date.accessioned2020-11-03T06:49:29Z-
dc.date.available2020-11-03T06:49:29Z-
dc.date.issued2019-11-
dc.identifier10.1016/j.jeca.2019.e00131en_US
dc.identifier.issn1703-4949en_US
dc.identifier.urihttps://doi.org/10.1016/j.jeca.2019.e00131en_US
dc.identifier.urihttps://ruomo.lib.uom.gr/handle/7000/819-
dc.description.abstractThis paper examines the long-run convergence of houses prices across the eighteen Beijing districts using monthly dataset that span from January 2006 to December 2014. Following a pair-wise approach, we conduct unit root tests on all N(N-1)/2 possible pairs of housing price differentials across the N districts of Beijing. By doing so we do not select any base-district or regional average as the benchmark. A two-stage approach is employed. In the first stage, unit root tests are employed to investigate the convergence (stationarity) of house price differentials across Beijing. Over half of the intra-city house price differentials are found to be stationary. The second stage of the analysis investigates the drivers of convergence. The probability of a pair being stationarity is negatively affected by income differentials across the eighteen districts, as well as the demographics differentials and supply-side factors. Last, we reveal that the half-life of a shock towards long-run price equilibrium is positively affected by distance and housing supply while little evidence can be found for the influence of income and population density.en_US
dc.language.isoenen_US
dc.publisherElsevieren_US
dc.sourceThe Journal of Economic Asymmetriesen_US
dc.subjectFRASCATI::Social sciences::Economics and Businessen_US
dc.subject.otherHouse price convergenceen_US
dc.subject.otherPair-wise approachen_US
dc.subject.otherCointegrationen_US
dc.titlePair-wise convergence of intra-city house prices in Beijingen_US
dc.typeArticleen_US
dc.contributor.departmentΤμήμα Οικονομικών Επιστημώνen_US
local.identifier.volume20en_US
local.identifier.firstpagee00131en_US
Appears in Collections:Department of Economics

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