Panel Analysis of Polish Regional Cities: Residential Price Convergence in the Primary Market

  title={Panel Analysis of Polish Regional Cities: Residential Price Convergence in the Primary Market},
  author={George Andrew Matysiak and Krzysztof Olszewski},
  journal={Econometric Modeling: Microeconometric Studies of Health},
We employ two methodologies in order to identify groupings of cities and to analyse the factors which drive convergence in residential prices across Polish prime markets over the period 2007-2018. The Phillips and Sul (2007) methodology is used to identify convergence in primary residential prices in the major Polish cities. The results indicate that residential prices do not converge to a single common trend. However, we find the existence of three distinct sub-groups of cities (‘clubs’) where… 

Pre and post-financial crisis convergence of metropolitan housing markets in Poland

Using a unique dataset of 4.6 million offers, we investigate the convergence of 28 regional housing markets in Poland from 2000 to 2019. The objective of the paper is twofold. First, we test whether

Socio-Economic Factors as a Criterion for the Classification of Housing Markets in Selected Cities in Poland

Abstract Property prices, including, in particular, residential properties, vary across local markets. For example, according to the National Bank of Poland, in late 2018, the average unit price of

House price convergence: evidence from India

Understanding trends in regional house prices and whether they converge to a single steady state or form clusters are important issues. These trends have been studied at length in respect to advanced

House price dynamics under lower leverage: the case of metropolitan cities in India

Purpose This paper aims to examine the dynamics of house prices in metropolitan cities in an emerging economy. The purpose of this study is to characterise the house price dynamics and the spatial

Housing market heterogeneity and cluster formation: evidence from Poland

  • M. Tomal
  • Business, Economics
    International Journal of Housing Markets and Analysis
  • 2021
Purpose This study aims to identify clusters amongst the county housing markets in Poland, taking into account the criteria of size and quality of the housing stock, as well as price level. In

Agricultural Land Price Convergence: Evidence from Polish Provinces

This research deals with the problem of agricultural land market efficiency using the spatial market integration concept as well as the present value (PV) model. Empirically, it aims to test the

Regional house price convergence in Spain during the housing boom

The aim of this paper is to identify convergence clubs in house prices among Spanish regions over the period 1995:Q1 to 2007:Q4 and to investigate which factors are responsible for club formation.

Convergence and Differentiation Processes in Local Markets and Structural Changes (Comparison of 16 Markets in Poland)

The housing market (primary, secondary or rental) is very often analyzed as a whole, big market in a selected country. Our analysis focuses on the fundamental determinants of this market in 16

An analysis of the primary and secondary housing market in Poland: evidence from the 17 largest cities

ABSTRACT We analyse the determinants of prices of flats that are bought on the primary (new construction) and secondary markets (existing stock) in the 17 largest cities in Poland during the

Regional convergence clubs in China: identification and conditioning factors

AbstractThis paper investigates club convergence in income per capita of 329 prefecture-level city regions in China over a period of 1990 to 2014. A nonlinear time-varying factor model is adopted to

Regional Convergence Clubs in Europe: Identification and Conditioning Factors

The aim of this paper is to empirically identify convergence clubs in per capita incomes of European regions and to investigate whether initial conditions − as suggested by the club convergence

Regional club convergence in the EU: evidence from a panel data analysis

We investigate club convergence in income per capita in 194 European NUTS-2 regions using a nonlinear, time-varying factor model that allows for individual and transitional heterogeneity. Moreover,

Do Urban House Prices Converge?

We investigate two aspects of housing market price dynamics. Firstly, whether the spatial pattern of house prices in a metropolitan housing market converge or diverge over time and secondly, whether

A Simple Test of σ-Convergence in U.S. Housing Prices across BEA Regions

This study probes the convergence of housing prices at the regional and the state levels. Regional classification follows the Bureau of Economic Analysis (BEA) designation of eight regions using

Country and Industry Convergence of Equity Markets: International Evidence from Club Convergence and Clustering

This study employs the panel convergence methodology developed by Phillips and Sul (2007) to explore the convergence dynamics of international equity markets. The analysis considers both country and