Housing networks and driving forces
利用澳大利亚和中国数据，通过时变格兰杰因果检验研究住房市场网络连接模式，探讨连接性随时间、房价、社会经济与地理邻近性及经济基本面或情绪驱动因素的变化。
This paper investigates patterns in housing market networks using Australian and Chinese data and a novel econometric approach based on pairwise time-varying Granger causality tests. The focus is on four fundamental questions. (1) Have housing markets become increasingly connected over time? (2) Does housing market connectivity increase or decrease with house prices? (3) Are socio-economic and geographic proximity important for housing market connections? (4) Do economic fundamentals or sentiment drive connectivity? The results reveal interesting differences in these markets and suggest that one size is not likely to fit all in terms of housing market policy.