J
2024
Evidence of the ripple effect across the Czech housing market
SLANÝ, Martin and Filip EMMER
Basic information
Original name
Evidence of the ripple effect across the Czech housing market
Name in Czech
Efekt přelévání cen na českém trhu s bydlením
Authors
SLANÝ, Martin (203 Czech Republic, guarantor, belonging to the institution) and Filip EMMER (203 Czech Republic)
Edition
International Journal of Economic Sciences, Praha, Brno: European Research Center s.r.o. 2024, 1804-9796
Other information
Type of outcome
Article in a journal
Field of Study
50202 Applied Economics, Econometrics
Country of publisher
Czech Republic
Confidentiality degree
is not subject to a state or trade secret
Impact factor
Impact factor: 2.400 in 2022
Organization unit
CEVRO University
Keywords (in Czech)
přelévání cen nemovitostí;regionální trh s bydlením; Grangerova kauzalita
Keywords in English
House price spillovers; Regional housing market; Granger causality
V originále
Czech regional housing markets have exhibited significant price co-movements over the last two decades. While part of this dynamic may be explained by traditional housing market fundamentals, some regions appear to be influenced by other variables. One possible explanation lies in the ripple effect, a phenomenon where house price shocks in one region influence prices in others. This study examines possible occurrence of the ripple effect using Toda-Yamamoto Granger causality. Results indicate statistically significant occurrence of lead-lag effect in eight out of 13 regions. Such price interconnectivity might be important factor for policymakers as study suggests that regional submarkets are not isolated and should be approached on macro level.
Displayed: 15/3/2025 01:45