We show that for any sample size, any size of the test, and any weights matrix outside a small class of exceptions, there exists a positive measure set of regression spaces such that the power of the Cliff-Ord test vanishes as the autocorrelation increases in a spatial error model. This result...

It is implied that the Housing Finance companies and banking sector can find an equilibrium rate of return on deposits by simultaneous determination of the utilization of housing loans and supply of the funds. The results are also useful in determination of equilibrium ratio of the rental income...

This paper empirically examines the functional role of various micro and macro economic as well as situational factors that determine residential housing demand and risk of borrower default. Using 13,487 housing loan account sanctioned from 1993-2007) data from Housing Finance Institutions...

This article aims to deepen the knowledge on consumer choices from the microeco-nomic perspective so as to better understand the behaviour of home buyers and its impact on the housing market. First, we provide an analysis of housing understood as a consumer and investment good. We then discuss...

In this study, we investigate the effects of age structure dynamics of population on the housing demand in Turkey. The critical question is how the housing demand moves in the environment of positive population growth with declining rate and aging population. We use TurkStat Household Budget...

This paper derives some exact power properties of tests for spatial autocorrelation in the context of a linear regression model. In particular, we characterize the circumstances in which the power vanishes as the autocorrelation increases, thus extending the work of Krämer (2005, Journal of...

Évora (county and above all, the city) is often cited as a case of success in terms of regional development, as it stands out in terms of social, economic, and demographic indicators from the rest of the region where it is located, i.e. the Alentejo (Portugal). This fact makes it relevant: (i)...

This paper investigates how the correlations implied by a first-order simultaneous autoregressive (SAR(1)) process are affected by the weights matrix W and the autocorrelation parameter . We provide an interpretation of the covariances between the random variables observed at two spatial units,...

The purpose of this paper is twofold: 1) to highlight the widely ignored but fundamental problem of ‘superpopulations’ for the use of inferential statistics in development studies. We do not to dwell on this problem however as it has been sufficiently discussed in older papers by...

Generally, econometric studies on socio-economic inequalities consider regions as independent entities, ignoring the likely possibility of spatial interaction between them. This interaction may cause spatial dependency or clustering, which is referred to as spatial autocorrelation. This paper...