Measuring the diffusion of housing prices across space and over time
用时间序列方法测量房价冲击在地区间的传导速度和幅度，发现加州各县房价扩散持续长达两年半，对房地产和区域经济学家及应用计量学者有参考价值。
How fast and how long (and to what magnitude) does a change in housing prices in one region affect its neighbors? In this paper, I apply a time series technique for measuring impulse response functions from local projections to a spatial autoregressive model of housing prices. For a dynamic panel of California counties, the data reveal that the diffusion of regional housing prices across space lasts up to two and half years. This result, and the econometric techniques employed, should be of interest not only to housing and regional economists, but to a variety of applied econometricians as well. Copyright (C) 2009 John Wiley & Sons, Ltd.