Aggregation of Local Housing Markets

Aggregation of Local Housing Markets This article explores the implications of spatial aggregation for parameter estimates in models of the housing sector. Using illustrative static and dynamic models and realistic assumptions about the “true” parameter values at the level of the local market, the article characterizes and quantifies the bias resulting from spatial aggregation and then uses the results to shed light on some previous findings from aggregate modeling of the housing sector. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png The Journal of Real Estate Finance and Economics Springer Journals

Aggregation of Local Housing Markets

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Publisher
Kluwer Academic Publishers
Copyright
Copyright © 1998 by Kluwer Academic Publishers
Subject
Economics; Regional/Spatial Science; Financial Services
ISSN
0895-5638
eISSN
1573-045X
D.O.I.
10.1023/A:1007733215016
Publisher site
See Article on Publisher Site

Abstract

This article explores the implications of spatial aggregation for parameter estimates in models of the housing sector. Using illustrative static and dynamic models and realistic assumptions about the “true” parameter values at the level of the local market, the article characterizes and quantifies the bias resulting from spatial aggregation and then uses the results to shed light on some previous findings from aggregate modeling of the housing sector.

Journal

The Journal of Real Estate Finance and EconomicsSpringer Journals

Published: Oct 6, 2004

References

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