This paper examines lead-lag relationships and the dynamic linkages among cross-border house prices in four Asia countries and cities, including Taiwan, Mainland China, Hong Kong and Singapore. We employ the Johansen (1988) cointegration technique, Toda and Yamamotoís (1995) Granger causality...

This paper investigates the stationarity properties and long-run relationship of Taiwan's regional house prices from 1993Q1 to 2009Q2. It applies the recent unit-root test of the panel seemingly unrelated regressions augmented Dickey-Fuller (SURADF) test developed by Breuer et al. The empirical...

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...

Taiwan launched the first case of real estate securitization in 2005. The interrelationship between Taiwan Real Estate Investment Trusts (T-REITs) and the aggregate equity markets and segmented industries has drawn the interests of both investors and academia. This paper employs Toda and...

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...

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...