Economics at your fingertips  

A nonlinear pairwise approach for the convergence of UK regional house prices

Eleni Kyriazakou () and Theodore Panagiotidis
Additional contact information
Eleni Kyriazakou: University of Macedonia

International Economics and Economic Policy, 2018, vol. 15, issue 2, No 11, 467-481

Abstract: Abstract We examine the long-run convergence across 12 UK regional house prices using a pairwise approach. The time period spans from 1983:1 to 2012:4. Linear, nonlinear and asymmetric unit root tests are considered for assessing the stationarity of all possible pairs. The test statistic for convergence is based on the percentage of unit root test rejections across all regional house price differentials. The percent of the pairs that reject the null increase from 6% in the linear ADF case to 53% for the nonlinear unit root. Probit analysis reveals that house price differentials in the South are more likely to be stationary and as a result tend to converge more compared to the North.

Keywords: Non-linear unit root tests; Convergence; Pair-wise approach; UK house prices (search for similar items in EconPapers)
JEL-codes: R1 R2 C33 (search for similar items in EconPapers)
Date: 2018
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1) Track citations by RSS feed

Downloads: (external link) Abstract (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link:

Ordering information: This journal article can be ordered from
http://www.springer. ... cs/journal/10368/PS2

DOI: 10.1007/s10368-017-0399-x

Access Statistics for this article

International Economics and Economic Policy is currently edited by Paul J.J. Welfens, Holger C. Wolf, Christian Pierdzioch and Christian Richter

More articles in International Economics and Economic Policy from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().

Page updated 2021-05-11
Handle: RePEc:kap:iecepo:v:15:y:2018:i:2:d:10.1007_s10368-017-0399-x