Further evidence on the existence of housing market bubbles

REFERENCES

• Abraham, J. and Hemlershott. P. (1993) Patterns and (determinants of metropolitan house prices. 1977 1991, in Real Estate and the Credit Crunch (edited by... Browne and E.Rosengren) Federal Reserve Rank of Boston, Boston.
   Google Scholar
• Abraham. J. and Hendersholl, P. (1996) Bubbles in melropolitan housing markets. Journal of Housing Research 7, 191-207.
   Google Scholar
• Burol, B. (1996) An econometric study of house prices in Sweden 1970-1995 Working Paper. National Institute of Economic Research.
   Google Scholar
• Bathgale. M. (1988) Home Ownership in New Zealand and the Roll of the Housing; Corporation in Providing finance. Policy and Research Division. Housing Corporation of New Zealand. Wellington.
   Google Scholar
• Berger, T.. England. P.. Hendersholl. P. and Turner, B. (2000) The capitalization of interest subsidies: evidence from Sweden, Journal of Money, Credit and Banking 32(2), I99-217.
   Google Scholar
• Bourassa. S. and Hendersholl. P. (1995) Australian capital city real house prices. 1979 1993. Australian Economic Review 111, 16-26.
   Google Scholar
• Bourassll S., Greig. A and Troy. P. (1995) The limits of housong policy: home ownership in Auslfulia. Housing Studies 10(1). 83-104.
   Google Scholar
• Capozza. D and Helsely. R. (1989) The fundamentals of land prices and urban growth. Journal of Urban Economics 26, 295-306.
   Google Scholar
• Capozza D and Helsley. R. (1990) The stochastic city. Journal of Urban Economics 28. 187-203.
   Google Scholar
• Capozza D.. Green, R. and Hendershott, P. (1996) Txes, home mortgage borrowing and residential land prices, in Economic Effects of Fundamental Tax Reform (ediled by H. Aaron and W. GaIe). Brookings Institute, Washington. DC.
   Google Scholar
• Case, K, and Shiller. R. (1989) the efficiency of the market for single-family homes. American Economic Review 79, 125 -37.
   Google Scholar
• Case, K. and Shiller. R. (1990) Forecasting prices and excess returns in the housing market. Journal of the American Real Estate and Urban Economics Association 18(3). 253-75.
   Google Scholar
• Davidson, J Hendry, D., Sibsa. F. and Yeo. S. (1978) Economic modelling of the aggragate timeseries relationship between consumer'sexpenditures and income in the United Kingdom. Economic Journal 88, 661 -92.
   Google Scholar
• Dickey. D. and Fuller. W. (1979) Distribution of the estimators for autoregressive time series with a unit root. Journal of the- American State Association 74, 427 -31.
   Google Scholar
• Drake. L. (1993) Modelling UK house prices using cointegration: an application of the Johansen technique, Applied Economicss 25(9), I225-28.
   Google Scholar
• Eilrheim. O. (1995) Norwegian housing prices 1983 to 1992 a linear dynamic model. Working Paper. Central Bank of Norway.
   Google Scholar
• Englaand. P. and loannides, Y. (1997) House price dynamics aninternational empiriel perspective, Journal of Housing Economicsics 7(2). 93--120.
   Google Scholar
• Hamilton. J. (1994) Times series Analysis. Princeton University Press, Princeton. NJ.
   Google Scholar
• Hang. A. (1992) Critical values for the Z., Philips-Ouiians test for cointegration. Oxford Bullettin of Economics and Statistics 54, 473-80.
   Google Scholar
• Mendersholl. P. (2000) Properly asset bubbles: evidence from the Sydney office market. Journal of Real Estate Finance and Economics 20(1). 67-81.
   Google Scholar
• Hort K. (1998) The determinants of urban house price fluctuations in Sweden 1968-1994, Journall of Housing Economics 7. 93-120
   Google Scholar
• Johnnsen. S. (1991) Estimation and hypothesis testing of cointegration vectors in Gaussian veclor autoregressive models. Econometruica 59(9), 1551--80.
   Google Scholar
• Meen. G. and Andrew. M. (1998) Modelling Regional House Prices: A Review of the Literature. report prepared for the Department of the Environment. Transport and theRegions. Department of Economics, University of Reading.
   Google Scholar
• O'Donovan. B. and Rue, D.(1997) The determination of house prices in New Zealand: an aggregate and regional analysis. New Zealand Economic papers 31(2). 175 -98.
   Google Scholar
• Phillips. P. and Ouliiaris. S. (1990) Asymplotic properties of residual based tests for coiniearaiion. Economica 58. 165- 93.
   Google Scholar
• Phillips. P. and Perron. P. (1998) Testing for a unit root in lime series regression, Biometrica 75, 335-46.
   Google Scholar
• Shiller. R (1989) Market Volatility MIT Press. Cambridge. MA.
   Google Scholar
• Shiller. R. (1990) Spceulalive prices and popular models. Journal of Economic Perspectives 4(2), 55-65.
   Google Scholar
• Stiglitz New Zealand (1996) Demographic fremls, i'rctnh, SNZ. Wellington.
   Google Scholar
• Sliglts J. (1990) Symposium on bubbles. Journal of Economic Perspectives 4(2). 13-18.
   Google Scholar
• Valuation New Zealand (1998) Urban Prosperity Sales Statistics Half Year Ended 31 December 1997, VNZ Wellington.
   Google Scholar
• White. H. (1980) A heteroseedasilicity-consistent covariance matrix estimator and a, direct test for heteroscedasticity. Economica 48. 817-38.
   Google Scholar