Nonlinearity and Limits to Forecasting in the Canadian Residential Housing Market
AbstractTime series of the International Urban Housing Market, whether stationary or not, look highly irregular and yet they are often summarily fitted in linear models for forecasting purposes. This paper investigates the issue of nonlinearity by first extending the power of Range Rescaling analysis to uncover and to identify any type of nonlinearity that might be present in temporal sequences and next applies it to monthly supply and prices data (from 1949-01 to 1995-01) of the Canadian residential housing market.
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Bibliographic InfoPaper provided by Laval - Recherche en Politique Economique in its series Papers with number 9605.
Length: 18 pages
Date of creation: 1996
Date of revision:
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CONSTRUCTION; HOUSING; BUSINESS CYCLES; MODELS;
Other versions of this item:
- Dominique, C.-René & Des Rosiers, François & Kiss, Laszlo, 1996. "Nonlinearity and Limits to Forecasting in the Canadian Residential Housing Market," Cahiers de recherche 9605, Université Laval - Département d'économique.
- L74 - Industrial Organization - - Industry Studies: Primary Products and Construction - - - Construction
- C10 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - General
- C60 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - General
- E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
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