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Theory and Empiricism in The Econometric Modelling of House Prices

Author

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  • Robert Buckley

    (Office of Policy Development and Research)

  • John Ermisch

    (US Department of Housing and Urban Development and the Policy Studies Institute)

Abstract

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Suggested Citation

  • Robert Buckley & John Ermisch, 1983. "Theory and Empiricism in The Econometric Modelling of House Prices," Urban Studies, Urban Studies Journal Limited, vol. 20(1), pages 83-90, February.
    • Handle: RePEc:sae:urbstu:v:20:y:1983:i:1:p:83-90
    DOI: 10.1080/713703151
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    References listed on IDEAS

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    1. Hall, Robert E, 1978. "Stochastic Implications of the Life Cycle-Permanent Income Hypothesis: Theory and Evidence," Journal of Political Economy, University of Chicago Press, vol. 86(6), pages 971-987, December.
    2. Feldstein, Martin S & Chamberlain, Gary, 1973. "Multimarket Expectations and the Rate of Interest," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 5(4), pages 873-902, November.
    3. King, Mervyn A., 1980. "An econometric model of tenure choice and demand for housing as a joint decision," Journal of Public Economics, Elsevier, vol. 14(2), pages 137-159, October.
    4. Martin Feldstein & Jerry Green & Eytan Sheshinski, 1983. "Inflation and Taxes in a Growing Economy with Debt and Equity Finance," NBER Chapters, in: Inflation, Tax Rules, and Capital Formation, pages 44-60, National Bureau of Economic Research, Inc.
    5. Feldstein, Martin, 1981. "The Distribution of the U.S. Capital Stock Between Residential and Industrial Uses," Economic Inquiry, Western Economic Association International, vol. 19(1), pages 26-37, January.
    6. Dougherty, Ann & Van Order, Robert, 1982. "Inflation, Housing Costs, and the Consumer Price Index," American Economic Review, American Economic Association, vol. 72(1), pages 154-164, March.
    7. Hanushek, Eric A & Quigley, John M, 1980. "What Is the Price Elasticity of Housing Demand?," The Review of Economics and Statistics, MIT Press, vol. 62(3), pages 449-454, August.
    8. Martin Feldstein, 1983. "Inflation, Income Taxes, and the Rate of Interest: A Theoretical Analysis," NBER Chapters, in: Inflation, Tax Rules, and Capital Formation, pages 28-43, National Bureau of Economic Research, Inc.
    9. Wilkinson, R K, 1973. "The Income Elasticity of Demand for Housing," Oxford Economic Papers, Oxford University Press, vol. 25(3), pages 361-377, November.
    10. Mervyn A. King, 1980. "An Econometric Model of Tenure Choice and Demand for Housing as a Joint Decision," NBER Chapters, in: Econometric Studies in Public Finance, pages 137-159, National Bureau of Economic Research, Inc.
    11. J. M. Keynes, 1937. "The General Theory of Employment," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 51(2), pages 209-223.
    12. Rosen, Harvey S., 1979. "Housing decisions and the U.S. income tax : An econometric analysis," Journal of Public Economics, Elsevier, vol. 11(1), pages 1-23, February.
    13. Leo Grebler, 1979. "The Growth of Residential Capital Since World War II," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 7(4), pages 539-580, December.
    14. Feldstein, Martin S & Eckstein, Otto, 1970. "The Fundamental Determinants of the Interest Rate," The Review of Economics and Statistics, MIT Press, vol. 52(4), pages 363-375, November.
    15. Robert M. Buckley, 1982. "A Simple Theory of the UK Housing Sector," Urban Studies, Urban Studies Journal Limited, vol. 19(3), pages 303-311, August.
    16. Michael R. Darby, 1974. "The Permanent Income Theory of Consumption — A Restatement," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 88(2), pages 228-250.
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    Cited by:

    1. Malpezzi, Stephen & Maclennan, Duncan, 2001. "The Long-Run Price Elasticity of Supply of New Residential Construction in the United States and the United Kingdom," Journal of Housing Economics, Elsevier, vol. 10(3), pages 278-306, September.
    2. Knut Are Aastveit & Bruno Albuquerque & André K. Anundsen, 2023. "Changing Supply Elasticities and Regional Housing Booms," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 55(7), pages 1749-1783, October.
    3. Eric Levin & Alberto Montagnoli & Robert E. Wright, 2009. "Demographic Change and the Housing Market: Evidence from a Comparison of Scotland and England," Urban Studies, Urban Studies Journal Limited, vol. 46(1), pages 27-43, January.
    4. André K. Anundsen, 2019. "Detecting Imbalances in House Prices: What Goes Up Must Come Down?," Scandinavian Journal of Economics, Wiley Blackwell, vol. 121(4), pages 1587-1619, October.
    5. Svein Olav Krakstad, 2015. "Long-Run Movements in House Prices," International Real Estate Review, Global Social Science Institute, vol. 18(4), pages 429-454.

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