Predicting the Geography of House Prices
AbstractPrediction is difficult. In this paper we use panel data methods to make reasonably accurate shortterm ex-post predictions of house prices across 353 local authority areas in England. The issue of prediction over the longer term is also addressed, and a simple method that makes use of the dynamics embodied in New Economic geography theory is suggested as a possible way to approach the problem.
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Bibliographic InfoPaper provided by Spatial Economics Research Centre, LSE in its series SERC Discussion Papers with number 0045.
Date of creation: Feb 2010
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Web page: http://www.spatialeconomics.ac.uk/SERC/publications/default.asp
new economic geography; real estate prices; spatial econometrics; panel data; prediction;
Other versions of this item:
- C21 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Cross-Sectional Models; Spatial Models; Treatment Effect Models
- C31 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Cross-Sectional Models; Spatial Models; Treatment Effect Models; Quantile Regressions; Social Interaction Models
- O18 - Economic Development, Technological Change, and Growth - - Economic Development - - - Urban, Rural, Regional, and Transportation Analysis; Housing; Infrastructure
- R12 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Size and Spatial Distributions of Regional Economic Activity; Interregional Trade (economic geography)
- R31 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Housing Supply and Markets
This paper has been announced in the following NEP Reports:
- NEP-ALL-2010-11-20 (All new papers)
- NEP-GEO-2010-11-20 (Economic Geography)
- NEP-URE-2010-11-20 (Urban & Real Estate Economics)
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