Table 4 Posterior LRMs values and final...

Table 4

Posterior LRMs values and final model diagnostics

Explanatory variable	LRM estimate	Bootstrapped std. error
Net disposable income per household	$+ 0.3495$	$0.1387$
Prague GDP per capita	$+ 0.1627$	$0.2631$
Unemployment rate in the Czech Republic	$- 0.4179$	$0.2022$
Mortgage interest rate	$- 0.0118$	$0.0545$
Covid19 dummy	$+ 0.3480$	$0.1192$

Explanatory variable	LRM estimate	Bootstrapped std. error
Net disposable income per household	$+ 0.3495$	$0.1387$
Prague GDP per capita	$+ 0.1627$	$0.2631$
Unemployment rate in the Czech Republic	$- 0.4179$	$0.2022$
Mortgage interest rate	$- 0.0118$	$0.0545$
Covid19 dummy	$+ 0.3480$	$0.1192$

Statistical test	Test statistics	p-value
Lilliefors test	$0.0813$	$0.3115$
Ljung–Box Q-test	$18.5155$	$0.5535$
Goldfeld–Quandt test	$0.9336$	$0.8744$

Note(s): For example, the LRM value of +0.3495 in the first row indicates that one standard deviation increase in net disposable income per household is associated with an increase of 0.3495 standard deviations in the price of new apartments per square meter. The test statistics and p-values are calculated for the residuals of the final model

Source(s): Authors’ calculations

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