Publication in refereed journal
香港中文大学研究人员 ( 现职)
| 邝启新教授 (经济学系) |
全文
| 数位物件识别号 (DOI) http://dx.doi.org/10.1111/j.1085-9489.2004.00329.x |
引用次数
Web of Sciencehttp://aims.cuhk.edu.hk/converis/portal/Publication/17WOS source URL
其它资讯
摘要This article investigates the dynamics of property prices and their interaction with output growth in a general equilibrium model. Closed form solutions and testable hypotheses are derived from a mildly restricted version of the model. The testable hypotheses are broadly supported empirically. In particular, (1) the volatility of commercial property prices is higher than that of residential property prices, (2) each of the lagged, contemporary, and forward commercial property prices is positively correlated with residential property prices, (3) the contemporaneous covariance between the two property prices is larger than the lagged covariance, and (4) output growth is positively correlated with both property prices. These results are consistent with simulations results that are based on a more general specification of the model.
着者Kan K, Kwong SKS, Leung CKY
期刊名称Journal of Regional Science
出版年份2004
月份2
日期1
卷号44
期次1
出版社BLACKWELL PUBLISHERS
页次95 - 123
国际标準期刊号0022-4146
语言英式英语
Web of Science 学科类别Business & Economics; Economics; ECONOMICS; Environmental Sciences & Ecology; Environmental Studies; ENVIRONMENTAL STUDIES; Planning & Development; PLANNING & DEVELOPMENT; Public Administration
