The long- and short-run influences of housing prices on migration
Datos Bibliográficos
| ID | 11453081 |
|---|---|
| Autores | Chien-Wen Peng, Chien‐Wen Peng (0000-0003-0826-5364, National Taipei University, autor de correspondencia), I‐Chun Tsai (0000-0001-8277-2327, National University of Kaohsiung) |
| Año | 2019 |
| Volumen | 93 |
| Páginas | 253-262 |
| Fecha de publicación | 2019-10-01 |
| Peer Reviewed | Sí |
| Open Access | Sí |
| Tipo | ARTICLE |
| Revista | Cities (JOURNAL) |
| Identificadores de la revista | ISSN: 0264-2751 • E-ISSN: 1873-6084 |
| Editorial | Elsevier BV (PUBLISHER) |
| DOI | 10.1016/j.cities.2019.05.011 |
| OpenAlex | W2948675908 |
| Idioma | EN |
| Citas recibidas | 8 |
| Referencias citadas | 26 |
A change in housing prices has a profound impact on households' housing equity and future moving decisions. While most previous studies focus on discussing the mobility lock-in effect due to housing price depreciation, revealing that there is a positive relationship between housing prices and migration, this study reexamines their relationship by using the panel cointegration method and city-level panel data for Taiwan during the 1994–2016 period. The empirical results reveal that migration and housing prices are cointegrated, and the influence of housing prices on migration is significantly positive in the long run. However, the influence of housing price changes on migration is not as significant as expected in the short run. To further examine their short-run relationships, we use quantile regression and the results show that the influence of housing price changes on migration is significantly negative below the 0.5 quantile, but it turns out to be significantly positive in the 0.9 quantile. The influence of housing price changes on migration is not significant between the 0.5 and 0.8 quantiles. We conclude that the influence of housing price changes on migration might be asymmetric in the short run
Cointegration · Depreciation (economics · Econometrics · Economics · Equity (law · House price · Microeconomics · Monetary economics · Panel data · Quantile · Quantile regression · Short run · Housing Market and Economics · Housing, Finance, and Neoliberalism · Spatial and Panel Data Analysis
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Panel Cointegration
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Spatial Lock-in
Why Is Taiwan’s Homeownership Rate So High
Residential Mobility
Un test simple de l'hypothèse de non-causalité dans un modèle de panel hétérogène
| Obras citantes distintas | 8 |
|---|---|
| Citas por año | 1,6 |
| Intervalo de citas | 2021 - 2026 (6) |
| Velocidad de citación | current |
| Altamente citado | No |
| Tipos de cita | Neutras: 8 |