Arbeitspapier
Housing market convergence: Evidence from Germany
This paper provides an analysis of the convergence pattern of German housing prices and rents employing a new dataset that covers all the country's administrative districts. In addition to conventional tests for β-convergence and δ-convergence, we apply Phillips and Sul's (2007) approach so as to allow for the various heterogeneity and transitional dynamics across districts. Our results reveal no evidence of convergence across Germany or within states; rather, we discover widespread evidence of divergence, as well as evidence of inter-state convergence and support for the existence of convergence clubs. At the federal level, we identify club numbers ranging from 11 (for existing flat prices) to 5 (for new flat rents). At the state level, the estimated number of clubs is generally lower, ranging from 0 to 6.
- Sprache
-
Englisch
- Erschienen in
-
Series: MAGKS Joint Discussion Paper Series in Economics ; No. 44-2022
- Klassifikation
-
Wirtschaft
General Regional Economics (includes Regional Data)
Real Estate Markets, Spatial Production Analysis, and Firm Location: General
Housing Supply and Markets
- Thema
-
Convergence
Germany
Housing prices
district-level data
convergence clubs
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Unal, Umut
Hayo, Bernd
Erol, Isil
- Ereignis
-
Veröffentlichung
- (wer)
-
Philipps-University Marburg, School of Business and Economics
- (wo)
-
Marburg
- (wann)
-
2022
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:44 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Unal, Umut
- Hayo, Bernd
- Erol, Isil
- Philipps-University Marburg, School of Business and Economics
Entstanden
- 2022
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