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Modelling the US Housing Market

Author

Listed:
  • Philip Arestis

    (University Director of Research, Cambridge Centre for Economic and Public Policy, Department of Land Economy, University of Cambridge)

  • Elias Karakitsos

    (Associate Member, Cambridge Centre fro Economic and Public Policy, University of Cambridge adn Director of Guildhall Asset Management, PCC, Ltd)

Abstract

The aim of this paper is to show that there are clear advantages in forecasting overall market trends and in policy analysis in treating the US housing market as homogeneous. This study differs from the traditional approach and other studies that attempt to deal with US house prices in a significant way. In these studies there is no nationwide housing market, but a compendium of segmented markets. In fact, most, if not likely impact on the overall economy. In this paper we focus on the methodology and the modelling aspects of treating the US housing market as homogeneous and its implications.

Suggested Citation

  • Philip Arestis & Elias Karakitsos, 2007. "Modelling the US Housing Market," Ekonomia, Cyprus Economic Society and University of Cyprus, vol. 10(2), pages 67-88, Winter.
  • Handle: RePEc:ekn:ekonom:v:10:y:2007:i:2:p:67-88
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    Citations

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    Cited by:

    1. Galchinskiy Leonid Yu. & Stanislavchuk Yuliya S., 2013. "Factor Analysis of Price Formation in the Construction Market in Ukraine," Business Inform, RESEARCH CENTRE FOR INDUSTRIAL DEVELOPMENT PROBLEMS of NAS (KHARKIV, UKRAINE), Kharkiv National University of Economics, issue 6, pages 187-190.
    2. Philip Arestis & Ana Rosa González-Martínez, 2015. "Residential Construction Activity in OECD Economies," Manchester School, University of Manchester, vol. 83(4), pages 451-474, July.

    More about this item

    JEL classification:

    • C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes
    • C32 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes; State Space Models
    • R30 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - General
    • R31 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Housing Supply and Markets

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