Details
| Originalsprache | Englisch |
|---|---|
| Seiten (von - bis) | 41-72 |
| Seitenumfang | 32 |
| Fachzeitschrift | The annals of regional science |
| Jahrgang | 60 |
| Ausgabenummer | 1 |
| Publikationsstatus | Veröffentlicht - 1 Jan. 2018 |
| Extern publiziert | Ja |
Abstract
In this paper, we provide a spatiotemporal examination of German real-estate prices in 412 administrative districts. The price process is spatially autocorrelated and stationary over the considered period from 1995 to 2010. To quantify both spatial and temporal effects of the process, we apply different spatiotemporal models. These models are consistently estimated by the maximum likelihood approach, and they are compared with respect to the impact of shocks on fundamental quantities. Moreover, we interpret the economic importance of our results with respect to migrational issues. We show that the willingness of individuals to move or to commute decreased in Germany during the considered years. Furthermore, we include a detailed interpretation of the so-called ripple effect.
ASJC Scopus Sachgebiete
- Umweltwissenschaften (insg.)
- Allgemeine Umweltwissenschaft
- Sozialwissenschaften (insg.)
- Allgemeine Sozialwissenschaften
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in: The annals of regional science, Jahrgang 60, Nr. 1, 01.01.2018, S. 41-72.
Publikation: Beitrag in Fachzeitschrift › Artikel › Forschung › Peer-Review
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TY - JOUR
T1 - Spatiotemporal analysis of German real-estate prices
AU - Otto, Philipp
AU - Schmid, Wolfgang
N1 - Publisher Copyright: © 2016, Springer-Verlag Berlin Heidelberg.
PY - 2018/1/1
Y1 - 2018/1/1
N2 - In this paper, we provide a spatiotemporal examination of German real-estate prices in 412 administrative districts. The price process is spatially autocorrelated and stationary over the considered period from 1995 to 2010. To quantify both spatial and temporal effects of the process, we apply different spatiotemporal models. These models are consistently estimated by the maximum likelihood approach, and they are compared with respect to the impact of shocks on fundamental quantities. Moreover, we interpret the economic importance of our results with respect to migrational issues. We show that the willingness of individuals to move or to commute decreased in Germany during the considered years. Furthermore, we include a detailed interpretation of the so-called ripple effect.
AB - In this paper, we provide a spatiotemporal examination of German real-estate prices in 412 administrative districts. The price process is spatially autocorrelated and stationary over the considered period from 1995 to 2010. To quantify both spatial and temporal effects of the process, we apply different spatiotemporal models. These models are consistently estimated by the maximum likelihood approach, and they are compared with respect to the impact of shocks on fundamental quantities. Moreover, we interpret the economic importance of our results with respect to migrational issues. We show that the willingness of individuals to move or to commute decreased in Germany during the considered years. Furthermore, we include a detailed interpretation of the so-called ripple effect.
KW - C52
KW - C55
KW - J61
KW - R12
KW - R32
UR - http://www.scopus.com/inward/record.url?scp=84989173710&partnerID=8YFLogxK
U2 - 10.1007/s00168-016-0789-y
DO - 10.1007/s00168-016-0789-y
M3 - Article
VL - 60
SP - 41
EP - 72
JO - The annals of regional science
JF - The annals of regional science
SN - 0570-1864
IS - 1
ER -