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Cross Border Business Cycle Impacts on the El Paso Housing Market

  • Kincal, Gokce
  • Fullerton, Thomas M., Jr.
  • Holcomb, James H.
  • Barraza de Anda, Martha P.

There is comparatively little empirical evidence regarding the impacts of cross border business cycle fluctuations on metropolitan housing markets located near international boundaries. This study examines the impacts of economic conditions in Mexico on sales of existing single-family houses in El Paso, Texas. Anecdotal evidence suggests that these impacts are fairly notable. Annual frequency data from the University of Texas at El Paso Border Region Modeling Project are used to test this possibility. Results indicate that solid empirical evidence of such a linkage is elusive.

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File URL: http://mpra.ub.uni-muenchen.de/29095/1/MPRA_paper_29095.pdf
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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 29095.

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Date of creation: 2010
Date of revision: 2010
Publication status: Published in Estudios Fronterizos 2.11(2010): pp. 49-77
Handle: RePEc:pra:mprapa:29095
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  1. Thomas M. Fullerton JR., 2001. "Specification of a Borderplex Econometric Forecasting Model," International Regional Science Review, , vol. 24(2), pages 245-260, April.
  2. Mankiw, N.G. & Zeldes, S.P., 1990. "The Consumption Of Stockholders And Non-Stockholders," Weiss Center Working Papers 23-90, Wharton School - Weiss Center for International Financial Research.
  3. Dennis R. Capozza & Patric H. Hendershott & Charlotte Mack & Christopher J. Mayer, 2002. "Determinants of Real House Price Dynamics," NBER Working Papers 9262, National Bureau of Economic Research, Inc.
  4. James McGibany & Farrokh Nourzad, 2004. "Do lower mortgage rates mean higher housing prices?," Applied Economics, Taylor & Francis Journals, vol. 36(4), pages 305-313.
  5. Baffoe-Bonnie, John, 1998. "The Dynamic Impact of Macroeconomic Aggregates on Housing Prices and Stock of Houses: A National and Regional Analysis," The Journal of Real Estate Finance and Economics, Springer, vol. 17(2), pages 179-97, September.
  6. Dua, Pami & Miller, Stephen M & Smyth, David J, 1999. "Using Leading Indicators to Forecast U.S. Home Sales in a Bayesian Vector Autoregressive Framework," The Journal of Real Estate Finance and Economics, Springer, vol. 18(2), pages 191-205, March.
  7. Fullerton, Thomas & Molina, Angel & Ibarreche, Santiago, 2007. "Borderplex Economic Growth: Chicken, Egg, or Scrambled?," MPRA Paper 7033, University Library of Munich, Germany.
  8. Green, Richard K., 2002. "Stock prices and house prices in California: new evidence of a wealth effect?," Regional Science and Urban Economics, Elsevier, vol. 32(6), pages 775-783, November.
  9. G. Donald Jud & Dan T. Winkler, 2002. "The Dynamics of Metropolitan Housing Prices," Journal of Real Estate Research, American Real Estate Society, vol. 23(1/2), pages 29-46.
  10. Kennedy, Peter E, 1978. "Direct Wealth Effects in Macroeconomic Models: The Saving vs. the Definitional Approach: A Note," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 10(1), pages 94-98, February.
  11. Goetzmann, William Nelson, 1993. "The Single Family Home in the Investment Portfolio," The Journal of Real Estate Finance and Economics, Springer, vol. 6(3), pages 201-22, May.
  12. Haurin, Donald R. & Gill, H. Leroy, 1987. "Effects of income variability on the demand for owner-occupied housing," Journal of Urban Economics, Elsevier, vol. 22(2), pages 136-150, September.
  13. Fullerton, Thomas M., Jr. & Molina, Angel L., Jr. & Pisani, Michael J., 2009. "Peso Acceptance Patterns in El Paso," MPRA Paper 17900, University Library of Munich, Germany, revised 19 Jun 2009.
  14. James M. Poterba, 2000. "Stock Market Wealth and Consumption," Journal of Economic Perspectives, American Economic Association, vol. 14(2), pages 99-118, Spring.
  15. Schwab, Robert M., 1983. "Real and nominal interest rates and the demand for housing," Journal of Urban Economics, Elsevier, vol. 13(2), pages 181-195, March.
  16. Phillip Arestis & Michelle Baddeley & John S.L. McCombie (ed.), 2007. "Economic Growth," Books, Edward Elgar, number 3958, December.
  17. Richard V. Adkisson & Linda Zimmerman, 2004. "Retail Trade on the U.S.-Mexico Border During the NAFTA Implementation Era," Growth and Change, Wiley Blackwell, vol. 35(1), pages 77-89.
  18. Smith, Lawrence B & Rosen, Kenneth T & Fallis, George, 1988. "Recent Developments in Economic Models of Housing Markets," Journal of Economic Literature, American Economic Association, vol. 26(1), pages 29-64, March.
  19. Carliner, Geoffrey, 1973. "Income Elasticity of Housing Demand," The Review of Economics and Statistics, MIT Press, vol. 55(4), pages 528-32, November.
  20. Thomas M Fullerton Jr, 2004. "Cross Border Business Cycle (Impacts on Commercial Electricity Demand," Urban/Regional 0407010, EconWPA.
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