The purpose of this paper is to apply recent advances in the econometrics of panel data to a problem that has a clear spatial dimension. We model the dynamic ad

The purpose of this paper is to apply recent advances in the econometrics of panel data to a problem that has a clear spatial dimension. We model the dynamic ad

Holly, Pesaran, and Yamagata (2010) use a panel of 49 states over the period of 1975 to 2003 to show that state-level real housing prices are driven by economic

House prices are of interest to the general public and government agencies for many reasons. The complexity and practicality of house price modeling have attrac