Regional house price convergence: implications of monetary policy
研究英国1973年至2020年区域房价收敛性，发现通胀目标制下各区域房价在金融危机前趋于一致，表明成功的通胀目标政策能促进区域一体化。
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.