Econometric modelling of UK house prices using accelerated importance sampling
Article Abstract:
The price volatility of the UK housing market is examined using a stochastically extended model proposed by David F Hendry in 1984. Also using an accelerated importance sampling technique, a 'preferred' model was produced that was different from Hendry's in that the variance of the price adjustment equation is virtually zero while excess demand has become a random variable whose distribution does not rely on its own lagged values. As such, the model's 'predicted' values for changes in price may be close to those obtained by Hendry but the predictive confidence intervals show substantial heteroskedasticity that has greater uncertainty during price volatility.
Publication Name: Oxford Bulletin of Economics & Statistics
Subject: Economics
ISSN: 0305-9049
Year: 1996
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House price shocks, windfall gains and hours of work: British evidence
Article Abstract:
A study on correlation between working hours, and capital gains from financial windfalls and real housing wealth gains is presented. The study is based information collected on British employees from 1992 to 2001.
Publication Name: Oxford Bulletin of Economics & Statistics
Subject: Economics
ISSN: 0305-9049
Year: 2004
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Efficiency and seasonality in the UK housing market, 1991u2001
Article Abstract:
The article uses regression analysis to examine the impact of housing prices and seasonality on housing sector of the United Kingdom.
Publication Name: Oxford Bulletin of Economics & Statistics
Subject: Economics
ISSN: 0305-9049
Year: 2006
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