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|c 5.00 USD
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|z 9781484378243
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|a 1018-5941
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|a Katagiri, Mitsuru.
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|a House Price Synchronization and Financial Openness :
|b A Dynamic Factor Model Approach /
|c Mitsuru Katagiri.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 2018.
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|a 1 online resource (28 pages)
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|a IMF Working Papers
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|a <strong>Off-Campus Access:</strong> No User ID or Password Required
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|a <strong>On-Campus Access:</strong> No User ID or Password Required
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|a Electronic access restricted to authorized BRAC University faculty, staff and students
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|a This paper investigates the developments in house price synchronization across countries by a dynamic factor model using a country- and city-level dataset, and examines what drives the synchronization. The empirical results indicate that: (i) the degree of synchronization has been rising since the 1970s, and (ii) a large heterogeneity in the degree of synchronization exists across countries and cities. A panel and cross-sectional regression analysis show that the heterogeneity of synchronization is partly accounted for by the progress in financial and trade openness. Also, the city-level analysis implies that the international synchronization is mainly driven by the city-level connectivity between large and international cities.
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|a Mode of access: Internet
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|a Classification Methods
|2 imf
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|a Cluster Analysis
|2 imf
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|a Factor Models
|2 imf
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|a Principal Components
|2 imf
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|a IMF Working Papers; Working Paper ;
|v No. 2018/209
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/001/2018/209/001.2018.issue-209-en.xml
|z IMF e-Library
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