recent advances in panel econometrics that allow for spatial heterogeneity, cross-sectional dependence, and non …

to an apartment purchase. State-of-the art panel data stationarity and Granger causality techniques are employed to test …

We employ recently developed cross-sectionally robust panel data tests for unit roots and cointegration to find whether … ten-year periods, price-rent ratios, and the panel data tests to construct a bubble indicator. The indicator is high for … the late 1980s, early 1990s and since the late 1990s for both panels. Finally, evidence based on panel data Granger …

typically not stable even over the long run. In contrast, panel regression models that relate house prices to aggregate personal … house prices and income varies significantly across locations, underscoring the importance of using estimation techniques …