... more than a century, we use the Lee–Strazicich test, which allows for structural change under both the null and alternative hypotheses. With this test, we find the majority of cities display a long-run relationship between home values and rents. G12 R30 R31 The value of one’s home...

... Time series analysis C22 R31 In our study, therefore, we use the theoretical model of Arestis and Karakitsos (2007) , adapted to China’s context by incorporating factors unique to the Chinese housing market. The following agents interact in the theoretical model: households...