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Change in the Distribution of House Prices across Spanish Cities

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  • Nicodemo, Catia

    ()
    (University of Oxford)

  • Raya, Josep M.

    ()
    (Universitat Pompeu Fabra)

Abstract

This paper presents the quantile estimation of house price between two years, 2004 and 2007 (a boom house price period) in several Spanish cities. We decompose the change in house price distribution into portions: changes in the distributions of the explanatory variables and changes in coefficients over time. Our main results are three. Firstly, from 2004 to 2007, the difference in housing price in Spain is larger at lower and higher percentiles. Secondly, the most important part of the difference in the distribution of housing prices between 2004 and 2007 is explained by coefficients (with all the variables contributing similarly). Thirdly, among cities, we can find a lot of variation in change of house price distribution. With respect to Spain's cities pattern, Madrid, Valencia and Bilbao, are the cities which big difference among them.

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Bibliographic Info

Paper provided by Institute for the Study of Labor (IZA) in its series IZA Discussion Papers with number 6503.

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Length: 32 pages
Date of creation: Apr 2012
Date of revision:
Publication status: published in: Regional Science and Urban Economics, 2012, 42 (4), 739–748
Handle: RePEc:iza:izadps:dp6503

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Keywords: housing market; quantile regression; housing price distribution; counterfactual distribution;

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Cited by:
  1. Fesselmeyer, Eric & Le, Kien T. & Seah, Kiat Ying, 2013. "Changes in the white–black house value distribution gap from 1997 to 2005," Regional Science and Urban Economics, Elsevier, vol. 43(1), pages 132-141.
  2. Paul E. Carrillo & Jonathan Rothbaum, 2014. "Counterfactual Spatial Distributions," Working Papers 2014-05, The George Washington University, Institute for International Economic Policy.

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