All Rights Reserved
AccessEcon LLC 2006, 2008.
Powered by MinhViet JSC
ralph lauren polo

 
Kuang-Liang Chang
 
''Analysis of structural changes in the relationship between regional housing markets in Taiwan''
( 2012, Vol. 32 No.3 )
 
 
This paper examines both the long-run and short-run relationships among the four regional housing markets in Taiwan, under the structural change framework. The empirical results demonstrate that the regional housing markets have a cointegration relationship and the long-run relation has two structural changes. One turning point occurs in the 2000Q1 and is related to the economic recession; the other one is in the 2003Q2 and is related to the boom in the Taiwan housing market. The generalized impulse responses show that the shock of any single regional housing market will affect the other three markets. This paper demonstrates the existence of a ripple effect in Taiwan's regional housing markets.
 
 
Keywords: regional housing markets, cointegration, structural changes, generalized impulse response
JEL: R1 - General Regional Economics (includes Regional Data)
R0 - Urban, Rural, and Regional Economics: General
 
Manuscript Received : Feb 24 2012 Manuscript Accepted : Aug 03 2012

  This abstract has been downloaded 152 times                The Full PDF of this paper has been downloaded 87751 times