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Aggregate and regional house price to earnings ratio dynamics in the UK.
- Source :
-
Urban Studies (Sage Publications, Ltd.) . Oct2014, Vol. 51 Issue 13, p2916-2927. 12p. - Publication Year :
- 2014
-
Abstract
- This paper examines the time-series properties of house price to earnings ratio (HPER) in the UK using aggregate and regional data. Specifically, we utilise a series of unit root tests to examine the null hypothesis of nonstationary HPERs. These include linear tests as well as a nonlinear test and also a test which accounts for abrupt structural change. The results are against the notion of stationary HPERs. This implies that house prices may permanently diverge from earnings. [ABSTRACT FROM PUBLISHER]
Details
- Language :
- English
- ISSN :
- 00420980
- Volume :
- 51
- Issue :
- 13
- Database :
- Academic Search Index
- Journal :
- Urban Studies (Sage Publications, Ltd.)
- Publication Type :
- Academic Journal
- Accession number :
- 97787278
- Full Text :
- https://doi.org/10.1177/0042098013506063