GUPTA, RANGAN; Miller, Stephen M. - Department of Economics, University of Connecticut - 2009
We examine the time-series relationship between housing prices in Los Angeles, Las Vegas, and Phoenix. First, temporal … Granger causality tests reveal that Los Angeles housing prices cause housing prices in Las Vegas (directly) and Phoenix … (indirectly). In addition, Las Vegas housing prices cause housing prices in Phoenix. Los Angeles housing prices prove exogenous in …