Artikel
Housing prices in Spain: Convergence or decoupling?
In this article, we measure changes in the synchronization of housing price cycles across Spanish cities over time. We rely on a regime-switching framework that identifies the housing price cycles of pairs of cities and simultaneously infers the evolving relation between those cycles. These bilateral relationships are then summarized into an aggregate index of city-level housing cycle synchronization. The estimates suggest that Spanish housing prices have followed a convergence pattern that reached a peak in 2009 and decreased slightly afterward. We also identify the cities that have been the main contributors to this convergence process. Moreover, we show that differences in population growth and economic structure are key factors in explaining the evolution of housing price synchronization among Spanish cities.
- Sprache
-
Englisch
- Erschienen in
-
Journal: SERIEs - Journal of the Spanish Economic Association ; ISSN: 1869-4195 ; Volume: 14 ; Year: 2023 ; Issue: 2 ; Pages: 165-187
- Klassifikation
-
Wirtschaft
Multiple or Simultaneous Equation Models: Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes; State Space Models
Price Level; Inflation; Deflation
Regional Economic Activity: Growth, Development, Environmental Issues, and Changes
- Thema
-
Housing cycles
Spain
Synchronization
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Ghirelli, Corinna
Leiva-León, Danilo
Urtasun, Alberto
- Ereignis
-
Veröffentlichung
- (wer)
-
Springer
- (wo)
-
Heidelberg
- (wann)
-
2023
- DOI
-
doi:10.1007/s13209-023-00275-1
- Letzte Aktualisierung
-
10.03.2025, 11:43 MEZ
Datenpartner
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Artikel
Beteiligte
- Ghirelli, Corinna
- Leiva-León, Danilo
- Urtasun, Alberto
- Springer
Entstanden
- 2023
Ähnliche Objekte (12)
Global business cycles : convergence or decoupling?
Global business cycles: convergence or decoupling?
Global business cycles: convergence or decoupling?
Euro area business cycles in turbulent times: convergence or decoupling?
Essays on prices and price convergence
Essays on prices and price convergence
Housing Market Convergence: Evidence from Germany
Housing market convergence: Evidence from Germany
What drives housing prices?
Business cycle convergence or decoupling? Economic adjustment in CESEE during the crisis
Migratory Movements And Regional Convergence In Spain.
Real convergence, price level convergence and inflation in Europe
Global business cycles : convergence or decoupling?
Global business cycles: convergence or decoupling?
Global business cycles: convergence or decoupling?
Euro area business cycles in turbulent times: convergence or decoupling?
Essays on prices and price convergence
Essays on prices and price convergence
Housing Market Convergence: Evidence from Germany
Housing market convergence: Evidence from Germany
What drives housing prices?
Business cycle convergence or decoupling? Economic adjustment in CESEE during the crisis
Migratory Movements And Regional Convergence In Spain.
Real convergence, price level convergence and inflation in Europe
Global business cycles : convergence or decoupling?
Global business cycles: convergence or decoupling?
Global business cycles: convergence or decoupling?
Euro area business cycles in turbulent times: convergence or decoupling?
Essays on prices and price convergence
Essays on prices and price convergence
Housing Market Convergence: Evidence from Germany
Housing market convergence: Evidence from Germany
What drives housing prices?
Business cycle convergence or decoupling? Economic adjustment in CESEE during the crisis
Migratory Movements And Regional Convergence In Spain.