The space-time structure of land prices in Japanese metropolitan areas
AbstractThis study aims to clarify the space-time nature of land price upheaval that Japanese metropolitan areas experienced in the late eighties. Long-term panel data of land prices for two major metropolitan areas were first compiled, based on the Public Notifications. The parameters of the cross-sectional land price functions calculated in the process suggest that the price formations in Osaka are approximately two to three years behind that in Tokyo. The space-time structure of land price changes within the Tokyo area was studied using one- and two-dimensional diffusion models, where monocentricity of fund supplies to the land market is assumed. It is concluded, regardless of dimensions, that heat conduction provides a good analogy for the space-time behavior of land market: diffusion coefficients suggest that the land price increase has propagated fastest towards north-north-east and south-south-west, and slowest along the orthogonal direction. Copyright Springer-Verlag 2004
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoArticle provided by Springer in its journal The Annals of Regional Science.
Volume (Year): 38 (2004)
Issue (Month): 4 (December)
Contact details of provider:
Web page: http://link.springer.de/link/service/journals/00168/index.htm
More information through EDIRC
Find related papers by JEL classification:
- R15 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Econometric and Input-Output Models; Other Methods
- C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Longitudinal Data; Spatial Time Series
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Yokoi, Takahisa & Ando, Asao, 2012. "One-directional adjacency matrices in spatial autoregressive model: A land price example and Monte Carlo results," Economic Modelling, Elsevier, vol. 29(1), pages 79-85.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Guenther Eichhorn) or (Christopher F Baum).
If references are entirely missing, you can add them using this form.