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Can investors hedge residential price dynamics of Australia's capital cities?

Ma, Le and Liu, Chunlu 2010, Can investors hedge residential price dynamics of Australia's capital cities?, International real estate review, vol. 13, no. 1, Spring, pp. 30-45.

Document type: Journal Article
Collection: School of Architecture and Built Environment
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Title Can investors hedge residential price dynamics of Australia's capital cities?
Author(s) Ma, Le
Liu, Chunlu
Journal name International real estate review
Volume number 13
Issue number 1
Season Spring
Start page 30
End page 45
Total pages 16
Publisher Global Social Science Institute
Place of publication Potomac, Md.
Publication date 2010
ISSN 1029-6131
Keyword(s) house price indices
consumer price indices
autoregressive distributed lag model
error correction model
Summary The study described in this paper focuses on testing the short-run and
long-run relationships between house price and consumer price indices in Australia’s capital cities from 1998 to 2008. The autoregressive distributed lag model is adopted to obtain the estimates of the short-run relationships, while the error correction model is used to investigate the long-run relationships. The t-statistic is used to compute the significance of these relationships. The research results give no evidence that house price indices are correlated with consumer price indices in the short run. However, the long-run relationships between house and consumer price indices exist in most of the cities.
Language eng
Field of Research 120201 Building Construction Management and Project Planning
Socio Economic Objective 870501 Civil Building Management and Services
HERDC Research category C1 Refereed article in a scholarly journal
HERDC collection year 2010
Copyright notice ©2010, International Real Estate Review
Persistent URL http://hdl.handle.net/10536/DRO/DU:30033325
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