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Turnover and Price in the Housing Market: Causation, Association or Independence?

Author

Listed:
  • Hallberg, Daniel

    (Department of Economics)

  • Johansson, Per

    (Institute for Labour Market Policy Evaluation)

Abstract

We give general conditions for the data generating process to facilitate the testing of structural dependence of turnover on the average (or median) price in the homogenous housing market. Furthermore, the implications of aggregation over sub-markets is studied. A plausible explanation of the disparate empirical findings in this literature may be aggregation over heterogenous sub-markets. This conclusion is supported by empirical findings using longitudinal quarterly data for 289 Swedish municipalities during 1981:1-2000:2.

Suggested Citation

  • Hallberg, Daniel & Johansson, Per, 2002. "Turnover and Price in the Housing Market: Causation, Association or Independence?," Working Paper Series 2002:12, Uppsala University, Department of Economics.
    • Handle: RePEc:hhs:uunewp:2002_012
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    References listed on IDEAS

    as
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    More about this item

    Keywords

    Aggregation bias; House price; Volume of trade; Search;
    All these keywords.

    JEL classification:

    • C43 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Index Numbers and Aggregation
    • C51 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Construction and Estimation
    • D10 - Microeconomics - - Household Behavior - - - General

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