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 Université Laval - Département d'économique in its series Cahiers de recherche with number 9605.
Date of creation: 1996
Date of revision:
Other versions of this item:
- Dominique, C.R. & Desrosiers, F. & Kiss, L., 1996. "Nonlinearity and Limits to Forecasting in the Canadian Residential Housing Market," Papers 9605, Laval - Recherche en Politique Economique.
- 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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