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A spatio-temporal model of house prices in the US

Holly, Sean (contributor); Pesaran, M. Hashem (contributor); … - 2006

The purpose of this paper is to apply recent advances in the econometrics of panel data to a problem that has a clear spatial dimension. We model the dynamic adjustment of real house prices using data at the level of US States. In the last decade, in most OECD countries there has been a...