Autori
Canepa, Alessandra
Alqaralleh, Huthaifa

Titolo
Housing Market Cycles in Large Urban Areas.
Periodico
Università degli studi di Torino. Dip. Di Economia e Statistica Cognetti de Martiis. Working paper series
Anno: 2019 - Volume: 1 - Fascicolo: 3 - Pagina iniziale: 1 - Pagina finale: 27

This paper examines the asymmetric behaviour of house prices in large metropolitan areas. Using a sample of large cities, in several countries, it is shown that real estate prices cycles are largely nonlinear. It is found that dynamic asymmetries in the housing market cycle can well be modelled using a logistic smooth transition model (LSTAR). Further, it is shown that the LSTAR model has better forecasting properties with respect to a linear autoregressive model.



Testo completo: http://www.est.unito.it/do/home.pl/Download?doc=/allegati/wp2019dip/wp_3_2019.pdf

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