Modeling Space Market Dynamics: An Illustration Using Panel Data for US Retail

Modeling Space Market Dynamics: An Illustration Using Panel Data for US Retail Real estate research has a long and extensive history of analyzing space market dynamics. Nonetheless, two areas have been under researched. Regional panels of data have been rarely analyzed. Moreover, due to data constraints, the retail market has been studied much less than other market segments. This paper addresses both of these topics through an analysis of Metropolitan Statistical Area (MSA) level panel data. Our study covers almost three decades of annual retail data for 11 of the largest MSAs of the United States. We estimate a long run rent model and use Error Correction Models for short run rent, vacancy and supply adjustments. We test for differences in local market behavior in both the long run equilibrium relationships and in the short run adjustment processes. We identify two groups of similar markets. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png The Journal of Real Estate Finance and Economics Springer Journals

Modeling Space Market Dynamics: An Illustration Using Panel Data for US Retail

Loading next page...
 
/lp/springer_journal/modeling-space-market-dynamics-an-illustration-using-panel-data-for-us-Y80teBPGrN
Publisher
Springer Journals
Copyright
Copyright © 2013 by Springer Science+Business Media New York
Subject
Economics / Management Science; Regional/Spatial Science; Finance/Investment/Banking
ISSN
0895-5638
eISSN
1573-045X
D.O.I.
10.1007/s11146-013-9426-z
Publisher site
See Article on Publisher Site

Abstract

Real estate research has a long and extensive history of analyzing space market dynamics. Nonetheless, two areas have been under researched. Regional panels of data have been rarely analyzed. Moreover, due to data constraints, the retail market has been studied much less than other market segments. This paper addresses both of these topics through an analysis of Metropolitan Statistical Area (MSA) level panel data. Our study covers almost three decades of annual retail data for 11 of the largest MSAs of the United States. We estimate a long run rent model and use Error Correction Models for short run rent, vacancy and supply adjustments. We test for differences in local market behavior in both the long run equilibrium relationships and in the short run adjustment processes. We identify two groups of similar markets.

Journal

The Journal of Real Estate Finance and EconomicsSpringer Journals

Published: Jun 8, 2013

References

You’re reading a free preview. Subscribe to read the entire article.


DeepDyve is your
personal research library

It’s your single place to instantly
discover and read the research
that matters to you.

Enjoy affordable access to
over 18 million articles from more than
15,000 peer-reviewed journals.

All for just $49/month

Explore the DeepDyve Library

Search

Query the DeepDyve database, plus search all of PubMed and Google Scholar seamlessly

Organize

Save any article or search result from DeepDyve, PubMed, and Google Scholar... all in one place.

Access

Get unlimited, online access to over 18 million full-text articles from more than 15,000 scientific journals.

Your journals are on DeepDyve

Read from thousands of the leading scholarly journals from SpringerNature, Elsevier, Wiley-Blackwell, Oxford University Press and more.

All the latest content is available, no embargo periods.

See the journals in your area

DeepDyve

Freelancer

DeepDyve

Pro

Price

FREE

$49/month
$360/year

Save searches from
Google Scholar,
PubMed

Create lists to
organize your research

Export lists, citations

Read DeepDyve articles

Abstract access only

Unlimited access to over
18 million full-text articles

Print

20 pages / month

PDF Discount

20% off