The impact of the 2008 financial crisis on housing prices in China and Taiwan: A quantile regression analysis

Hsin-Hong Kang and Shu-Bing Liu

Economic Modelling, 2014, vol. 42, issue C, 356-362

Abstract: This paper adopts quantile regression to investigate the impact of the 2008 financial crisis on housing prices at difference price levels in China and Taiwan, and employs data from the period July 2005–December 2010. According to the empirical results, the ordinary least squares estimates are similar to those achieved from quantile regression. However, the conditional mean-focused regressions do not capture the results that are obtained by using quantile regressions. The empirical results indicate that in Taiwan the housing prices were more affected by the financial crisis when the prices of real estate were high, but in China the housing prices were less affected by the crisis when the prices were high.

Keywords: Financial crisis; Housing prices; Quantile regression; Power distance (search for similar items in EconPapers)
Date: 2014
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Citations: View citations in EconPapers (8)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecmode:v:42:y:2014:i:c:p:356-362

DOI: 10.1016/j.econmod.2014.07.018

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