A Spatiotemporal Autoregressive Price Index for the Paris Office Property Market
运用时空特征价格法分析巴黎写字楼交易价格，发现空间和时间依赖效应显著，并提出一种混合方法将时间体制转换纳入时空自回归模型，构建了同时考虑时空依赖和时间异质性的新价格指数。
This article applies the spatiotemporal hedonic approach to the analysis of office transaction prices in the Paris property market ( i.e ., central Paris and its inner suburbs). The analysis focuses primarily on the market's two main business districts (the Central Business District and the La Défense District). We find that spatial and temporal dependence effects are strongly present in these submarkets. Additionally, we propose a hybrid method for incorporating a temporal regime switch into the spatiotemporal autoregressive model. The regime switching around 1997 ( i.e. , in the presence of temporal heterogeneity) substantially affects the significance of spatial and temporal dependences. Finally, we build a new price index that incorporates both spatiotemporal dependences and temporal heterogeneity. This index differs strongly from the usual hedonic price index.