The study described in this paper focuses on testing the short-run and long-run relationships between house price and consumer price indices in Australia¡¦s capital cities from 1998 to 2008. The autoregressive distributed lag model is adopted to obtain the estimates of the short-run...

Purpose – A panel error correction model has been developed to investigate the spatial correlation patterns among house prices. This paper aims to identify a dominant housing market in the ripple down process. Design/methodology/approach – Seemingly unrelated regression estimators are...