Purpose: This paper aims to investigate how different uncertainty shocks affect international housing prices. Design/methodology/approach: The authors set up a model of housing price instability with four uncertainty variables and apply the panel generalized method of moments method and...

Purpose: This paper aims to examine the linkage of regional housing markets between Taiwan and China as increasing economic integration. Design/methodology/approach: Two time-varying estimations of cointegration tests, Gregory and Hansen (1996) cointegration test with structural break and the...

As China's economic reforms have undergone significant structural changes after 1979, it has been rather difficult to formulate a stable money demand function over the period following that year. While previous literature on the long-run relationship of money demand in China shows the existence...

Our paper differs from previous studies by examining the issue of whether regime changes have broken down the stability of the long-run relationships between tourism development and real GDP in Taiwan for the 1959–2003 period. We empirically investigate the co-movements and the causal...

This paper examines the lead-lag relationships and the dynamic linkages among four regional house price indices in Taiwan. We employ the Johansen cointegration technique, Toda and Yamamoto’s Granger causality test, the generalized impulse response approach, and variance decomposition analysis...

This paper applies an aggregate production function to examine the dynamic linkages among energy consumption, capital stock, and real income (real GDP per capita) in G-7 counties. We employ the Toda and Yamamoto (1995) Granger causality test, the generalized impulse response approach, and...