Convergence in U.S. house prices by state: evidence from the club convergence and clustering procedure
Journal article
Authors | Apergis, Nicholas and Payne, James |
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Abstract | This study examines the convergence of U.S. house prices by state over the quarterly period 1975:1 to 2010:4 through the club convergence and clustering procedure of Phillips and Sul (Econometrica 75:1771–1855, 2007). The results indicate the presence of three convergence clubs with the first convergence club consisting of 29 states inclusive of the entire BEA regions of the Mideast, New England, and Rocky Mountain as well as several states from the other BEA regions. The second convergence club consists of 19 states primarily in the Southeast and Plains regions along with a few states from the Far West, Southwest, and Great Lakes regions. The third convergence club comprises two states in the Southeast region (Arkansas and Mississippi). |
Keywords | U.S. house prices; Convergence; Panel Data |
Year | 2012 |
Journal | Letters in Spatial and Resource Sciences |
Publisher | Springer |
Web address (URL) | http://hdl.handle.net/10545/623593 |
http://creativecommons.org/licenses/by-nc-nd/4.0/ | |
hdl:10545/623593 | |
Publication dates | Jul 2012 |
Publication process dates | |
Deposited | 14 Mar 2019, 17:40 |
Contributors | University of Piraeus and University of South Florida Polytechnic |
File | File Access Level Open |
File | File Access Level Open |
https://repository.derby.ac.uk/item/94302/convergence-in-u-s-house-prices-by-state-evidence-from-the-club-convergence-and-clustering-procedure
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