Abstract:Different from past research of regional house prices, this paper employs the smooth transition regression (STR) model to investigate the ripple effects among regional house prices in Taiwan. The aim of this paper is to test whether a smooth transition regression model, which is capable of capturing this non-linear behaviour, shows a better characterisation of regional house prices than a linear model. Our main findings are as follows. First, the results reveal that there is a mixture of linear and smooth non-… Show more
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