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Spatial unconditional quantile regression: application to Japanese parking price data

Author

Listed:
  • Hajime Seya

    (Kobe University)

  • Kay W. Axhausen

    (ETH Zürich)

  • Makoto Chikaraishi

    (Hiroshima University)

Abstract

The present study develops a spatial unconditional quantile regression by extending Firpo et al.’s (Econometrica 77:953–973, 2009) unconditional quantile regression and empirically investigates the determinants of parking prices at different quantiles of prices in Japan. The empirical results suggest that spatial competition in terms of unit price and the unit time play important roles in determining parking prices. On the contrary, price is unaffected by demand, approximated by adopting several employment density variables and aggregated people flow data obtained from cell phones. Besides, significant differences exist among the factors that affect parking prices during the day and at night as well as among the unconditional quantiles.

Suggested Citation

  • Hajime Seya & Kay W. Axhausen & Makoto Chikaraishi, 2020. "Spatial unconditional quantile regression: application to Japanese parking price data," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 65(2), pages 351-402, October.
    • Handle: RePEc:spr:anresc:v:65:y:2020:i:2:d:10.1007_s00168-020-00987-3
    DOI: 10.1007/s00168-020-00987-3
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    2. Evangelista, Rui & Silva, João Andrade e & Ramalho, Esmeralda A., 2022. "How heterogeneous is the impact of energy efficiency on dwelling prices? Evidence from the application of the unconditional quantile hedonic model to the Portuguese residential market," Energy Economics, Elsevier, vol. 109(C).

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    JEL classification:

    • C21 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Cross-Sectional Models; Spatial Models; Treatment Effect Models
    • R41 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Transportation Economics - - - Transportation: Demand, Supply, and Congestion; Travel Time; Safety and Accidents; Transportation Noise
    • R12 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Size and Spatial Distributions of Regional Economic Activity; Interregional Trade (economic geography)

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