The unequal access to and utilization of Information and Communications Technologies (ICTs) has emerged as one of the predominant issues of our times. There is a widely held belief, increasingly combined with evidence, that the diffusion and appropriate utilization of ICTs present enormous opportuni
Measuring the diffusion of housing prices across space and over time
โ Scribed by Ryan R. Brady
- Publisher
- John Wiley and Sons
- Year
- 2009
- Tongue
- English
- Weight
- 182 KB
- Volume
- 26
- Category
- Article
- ISSN
- 0883-7252
- DOI
- 10.1002/jae.1118
No coin nor oath required. For personal study only.
โฆ Synopsis
How fast and how long (and to what magnitude) does a change in housing prices in one region affect its neighbors? In this paper, I apply a time series technique for measuring impulse response functions from local projections to a spatial autoregressive model of housing prices. For a dynamic panel of California counties, the data reveal that the diffusion of regional housing prices across space lasts up to two and half years. This result, and the econometric techniques employed, should be of interest not only to housing and regional economists, but to a variety of applied econometricians as well.
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