Regional house price convergence: implications of monetary policy

Pin-Te Lin and Armand Robberts

Regional Studies, 2024, vol. 58, issue 5, 968-980

Abstract: Motivated by the structural change since the adoption of inflation targeting in October 1992, this research investigates regional house price convergence in the UK over the period 1973:Q4–2020:Q4. By using subsample comparisons, results show that all regions in the inflation-targeting regime converges to one club until the Global Financial Crisis. The finding suggests that the successful inflation-targeting policy can promote integration among regions.

Date: 2024
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DOI: 10.1080/00343404.2023.2233559

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