Autori: Canepa, Alessandra, Zanetti Chini, Emilio, Alqaralleh, Huthaifa
Titolo: Global Cities and Local Challenges: Booms and Busts in the London Real Estate Market.
Periodico: Università degli studi di Torino. Dip. Di Economia e Statistica Cognetti de Martiis. Working paper series
Anno: 2020 - Volume: 4 - Fascicolo: 11 - Pagina iniziale: 1 - Pagina finale: 34

In this paper we investigate the dynamic features of house prices in London. Using a generalized smooth transition model (GSTAR) we show that dynamic symmetry in price cycles in the London housing market is strongly rejected. We also show that the GSTAR model is able to replicate the features of the observed cycle in the simulated data. Further, our results show that the proposed model performs well when compared to other linear and nonlinear speci?cations in a out-of-sample forecasting exercise.




Testo completo: https://www.est.unito.it/do/home.pl/Download?doc=/allegati/wp2020dip/wp_11_2020.pdf

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