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The Dynamics of Intraurban Quantile House Price Indexes

Author

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  • N. Edward Coulson

    (Department of Economics, Penn State University, University Park, Pennsylvania, PA 16802, USA, fyj@psu.edu)

  • Daniel P. McMillen

    (Department of Economics (MC 144), University of Illinois at Chicago, 601 S. Morgan Street, Chicago, IL 60607, USA, mcmillen@uic.edu)

Abstract

Estimating price indexes for different quantiles shows how prices vary for homes that are in different stages of the filtering process. The paper describes a filtering model and its implication for the dynamic interaction of housing prices at these various stages. A time-series analysis of quantile price indexes for three municipalities near Chicago supports the predictions of the filtering model.

Suggested Citation

  • N. Edward Coulson & Daniel P. McMillen, 2007. "The Dynamics of Intraurban Quantile House Price Indexes," Urban Studies, Urban Studies Journal Limited, vol. 44(8), pages 1517-1537, July.
    • Handle: RePEc:sae:urbstu:v:44:y:2007:i:8:p:1517-1537
    DOI: 10.1080/00420980701373446
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    References listed on IDEAS

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