Otto, P. and Schmid, W. (2016) Spatiotemporal analysis of German real-estate prices. Annals of Regional Science, 60, pp. 41-72. (doi: 10.1007/s00168-016-0789-y)
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Abstract
In this paper, we provide a spatiotemporal examination of German real-estate prices in 412 administrative districts. The price process is spatially autocorrelated and stationary over the considered period from 1995 to 2010. To quantify both spatial and temporal effects of the process, we apply different spatiotemporal models. These models are consistently estimated by the maximum likelihood approach, and they are compared with respect to the impact of shocks on fundamental quantities. Moreover, we interpret the economic importance of our results with respect to migrational issues. We show that the willingness of individuals to move or to commute decreased in Germany during the considered years. Furthermore, we include a detailed interpretation of the so-called ripple effect.
| Item Type: | Articles |
|---|---|
| Status: | Published |
| Refereed: | Yes |
| Glasgow Author(s) Enlighten ID: | Otto, Dr Philipp |
| Authors: | Otto, P., and Schmid, W. |
| College/School: | College of Science and Engineering > School of Mathematics and Statistics > Statistics |
| Journal Name: | Annals of Regional Science |
| Publisher: | Springer |
| ISSN: | 0570-1864 |
| ISSN (Online): | 1432-0592 |
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