<abstract xmlns="http://www.w3.org/1999/xhtml"><p>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.</p></abstract>

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.

Spillovers across House Price Convergence Clubs: Evidence from the Polish Housing Market

Department of Real Estate and Investment Economics

Real Estate Management and Valuation

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 License.

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...

Spillovers across House Price Convergence Clubs: Evidence from the Polish Housing Market

Publié en ligne: 22 juin 2020

Pages: 13 - 20

DOI: https://doi.org/10.1515/remav-2020-0012

Mots clés
house price convergence, impulse response function, spillover index, VAR model, ripple effect

© 2020 Mateusz Tomal, published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 License.

Spillovers across House Price Convergence Clubs: Evidence from the Polish Housing Market

Publié en ligne: 22 juin 2020

Pages: 13 - 20

DOI: https://doi.org/10.1515/remav-2020-0012

Mots cléshouse price convergence, impulse response function, spillover index, VAR model, ripple effect

© 2020 Mateusz Tomal, published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 License.

Mots clés
house price convergence, impulse response function, spillover index, VAR model, ripple effect