Spillovers across House Price Convergence Clubs: Evidence from the Polish Housing Market
Abstrak
The aim of this study is to assess whether significant spillovers exist among house price convergence clubs in the Polish housing market. This paper is a continuation of my previous research on house price convergence in Poland. In order to achieve the defined goal, VAR modelling was used. Based on the results of the VAR model, impulse response functions (IRFs) and the Spillover Index were calculated. The obtained results indicate that spillovers in the Polish housing market are strong. The relationships are observed both inside the primary and secondary markets and between them. In particular, a very powerful influence is exerted from a club of cities from the primary market, consisting of Cracow, Warsaw, Gdańsk, Poznań, Rzeszów and Wrocław, on the remaining identified house price convergence clubs.
Topik & Kata Kunci
Penulis (1)
Tomal Mateusz
Akses Cepat
- Tahun Terbit
- 2020
- Sumber Database
- DOAJ
- DOI
- 10.1515/remav-2020-0012
- Akses
- Open Access ✓