Table A4 Regression results predicted vs...

Table A4

Regression results predicted vs observed house prices

	Dependent variable
	log(Non-housing consumption)
	(1)	(2)
(Cohort)2	0.056***	0.051***
(Cohort)2	(0.015)	(0.015)
(Cohort)3	0.104***	0.090***
(Cohort)3	(0.020)	(0.020)
(Cohort)4	0.086***	0.057***
(Cohort)4	(0.023)	(0.022)
(Cohort)5	0.098***	0.065***
(Cohort)5	(0.026)	(0.025)
(Cohort)6	0.129***	0.109***
(Cohort)6	(0.029)	(0.028)
(Cohort)7	0.132***	0.127***
(Cohort)7	(0.031)	(0.030)
(Cohort)8	0.121***	0.108***
(Cohort)8	(0.033)	(0.032)
(Cohort)9	0.091***	0.068**
(Cohort)9	(0.035)	(0.034)
(Cohort)10	0.073**	0.045
(Cohort)10	(0.037)	(0.036)
(Cohort)11	0.076*	0.053
(Cohort)11	(0.039)	(0.038)
(Cohort)12	0.084**	0.067*
(Cohort)12	(0.041)	(0.040)
(Cohort)13	0.077*	0.055
(Cohort)13	(0.044)	(0.043)
(Cohort)14	0.074	0.032
(Cohort)14	(0.058)	(0.056)
Age	−0.501	−0.989***
Age	(0.336)	(0.305)
I(Age $ˆ 2$ ⁠)	0.209***	0.295***
I(Age $ˆ 2$ ⁠)	(0.077)	(0.071)
I(Age $ˆ 3$ ⁠)	−0.032***	−0.039***
I(Age $ˆ 3$ ⁠)	(0.008)	(0.008)
I(Age $ˆ 4$ ⁠)	0.002***	0.002***
I(Age $ˆ 4$ ⁠)	(0.0004)	(0.0004)
I(Age $ˆ 5$ ⁠)	−0.0001***	−0.0001***
I(Age $ˆ 5$ ⁠)	(0.00001)	(0.00001)
N_Children_U_2	−0.002	0.005
N_Children_U_2	(0.010)	(0.010)
N_Children_2_t_5	0.026***	0.035***
N_Children_2_t_5	(0.008)	(0.008)
N_Children_5_t_18	−0.061***	−0.044***
N_Children_5_t_18	(0.004)	(0.004)
N_Adults	0.225***	0.213***
N_Adults	(0.005)	(0.004)
Dummy_More_2_A1	−0.096***	−0.073***
Dummy_More_2_A1	(0.010)	(0.010)
Alevel	0.089***	0.071***
Alevel	(0.006)	(0.006)
Degree	0.136***	0.106***
Degree	(0.005)	(0.005)
EPC_Bin1	−0.098***	−0.045***
EPC_Bin1	(0.015)	(0.014)
Predicted	0.007	0.011
Predicted	(0.014)	(0.017)
Age_G2	0.072
Age_G2	(0.219)
Age_G3	−0.140
Age_G3	(0.218)
Tenure2		0.234
Tenure2		(0.296)
Tenure3		0.303
Tenure3		(0.253)
Tenure4		0.285
Tenure4		(0.248)
Diff_Pred_Obvs	0.058	−0.051
Diff_Pred_Obvs	(0.071)	(0.090)
Predicted:Age_G2	−0.003
Predicted:Age_G2	(0.018)
Predicted:Age_G3	0.009
Predicted:Age_G3	(0.018)
Age_G2:Diff_Pred_Obvs	0.004
Age_G2:Diff_Pred_Obvs	(0.091)
Age_G3:Diff_Pred_Obvs	−0.128
Age_G3:Diff_Pred_Obvs	(0.090)
Predicted:Tenure2		−0.008
Predicted:Tenure2		(0.024)
Predicted:Tenure3		−0.003
Predicted:Tenure3		(0.021)
Predicted:Tenure4		0.005
Predicted:Tenure4		(0.020)
Tenure2:Diff_Pred_Obvs		0.174
Tenure2:Diff_Pred_Obvs		(0.124)
Tenure3:Diff_Pred_Obvs		0.097
Tenure3:Diff_Pred_Obvs		(0.106)
Tenure4:Diff_Pred_Obvs		0.001
Tenure4:Diff_Pred_Obvs		(0.104)
EPC_Bin1:Diff_Pred_Obvs	−0.464**	−0.011
EPC_Bin1:Diff_Pred_Obvs	(0.218)	(0.196)
EPC_Bin1:Age_G2	−0.109***
EPC_Bin1:Age_G2	(0.022)
EPC_Bin1:Age_G3	−0.159***
EPC_Bin1:Age_G3	(0.024)
EPC_Bin1:Age_G2:Diff_Pred_Obvs	0.592*
EPC_Bin1:Age_G2:Diff_Pred_Obvs	(0.327)
EPC_Bin1:Age_G3:Diff_Pred_Obvs	0.764**
EPC_Bin1:Age_G3:Diff_Pred_Obvs	(0.353)
EPC_Bin1:Tenure2		0.041*
EPC_Bin1:Tenure2		(0.024)
EPC_Bin1:Tenure3		−0.047*
EPC_Bin1:Tenure3		(0.026)
EPC_Bin1:Tenure4		0.037
EPC_Bin1:Tenure4		(0.041)
EPC_Bin1:Tenure2:Diff_Pred_Obvs		−0.622*
EPC_Bin1:Tenure2:Diff_Pred_Obvs		(0.365)
EPC_Bin1:Tenure3:Diff_Pred_Obvs		−0.243
EPC_Bin1:Tenure3:Diff_Pred_Obvs		(0.387)
EPC_Bin1:Tenure4:Diff_Pred_Obvs		−0.385
EPC_Bin1:Tenure4:Diff_Pred_Obvs		(0.622)
Constant	5.180***	5.999***
Constant	(0.575)	(0.541)
57306.52
Observations	41,646	41,646
R²	0.181	0.219
Adjusted R²	0.180	0.218
Residual Std. Error	0.481 (df = 41,606)	0.470 (df = 41,601)
F-statistic	235.448*** (df = 39; 41,606)	265.450*** (df = 44; 41,601)

	Dependent variable
	log(Non-housing consumption)
	(1)	(2)
(Cohort)2	0.056***	0.051***
(Cohort)2	(0.015)	(0.015)
(Cohort)3	0.104***	0.090***
(Cohort)3	(0.020)	(0.020)
(Cohort)4	0.086***	0.057***
(Cohort)4	(0.023)	(0.022)
(Cohort)5	0.098***	0.065***
(Cohort)5	(0.026)	(0.025)
(Cohort)6	0.129***	0.109***
(Cohort)6	(0.029)	(0.028)
(Cohort)7	0.132***	0.127***
(Cohort)7	(0.031)	(0.030)
(Cohort)8	0.121***	0.108***
(Cohort)8	(0.033)	(0.032)
(Cohort)9	0.091***	0.068**
(Cohort)9	(0.035)	(0.034)
(Cohort)10	0.073**	0.045
(Cohort)10	(0.037)	(0.036)
(Cohort)11	0.076*	0.053
(Cohort)11	(0.039)	(0.038)
(Cohort)12	0.084**	0.067*
(Cohort)12	(0.041)	(0.040)
(Cohort)13	0.077*	0.055
(Cohort)13	(0.044)	(0.043)
(Cohort)14	0.074	0.032
(Cohort)14	(0.058)	(0.056)
Age	−0.501	−0.989***
Age	(0.336)	(0.305)
I(Age $ˆ 2$ )	0.209***	0.295***
I(Age $ˆ 2$ )	(0.077)	(0.071)
I(Age $ˆ 3$ )	−0.032***	−0.039***
I(Age $ˆ 3$ )	(0.008)	(0.008)
I(Age $ˆ 4$ )	0.002***	0.002***
I(Age $ˆ 4$ )	(0.0004)	(0.0004)
I(Age $ˆ 5$ )	−0.0001***	−0.0001***
I(Age $ˆ 5$ )	(0.00001)	(0.00001)
N_Children_U_2	−0.002	0.005
N_Children_U_2	(0.010)	(0.010)
N_Children_2_t_5	0.026***	0.035***
N_Children_2_t_5	(0.008)	(0.008)
N_Children_5_t_18	−0.061***	−0.044***
N_Children_5_t_18	(0.004)	(0.004)
N_Adults	0.225***	0.213***
N_Adults	(0.005)	(0.004)
Dummy_More_2_A1	−0.096***	−0.073***
Dummy_More_2_A1	(0.010)	(0.010)
Alevel	0.089***	0.071***
Alevel	(0.006)	(0.006)
Degree	0.136***	0.106***
Degree	(0.005)	(0.005)
EPC_Bin1	−0.098***	−0.045***
EPC_Bin1	(0.015)	(0.014)
Predicted	0.007	0.011
Predicted	(0.014)	(0.017)
Age_G2	0.072
Age_G2	(0.219)
Age_G3	−0.140
Age_G3	(0.218)
Tenure2		0.234
Tenure2		(0.296)
Tenure3		0.303
Tenure3		(0.253)
Tenure4		0.285
Tenure4		(0.248)
Diff_Pred_Obvs	0.058	−0.051
Diff_Pred_Obvs	(0.071)	(0.090)
Predicted:Age_G2	−0.003
Predicted:Age_G2	(0.018)
Predicted:Age_G3	0.009
Predicted:Age_G3	(0.018)
Age_G2:Diff_Pred_Obvs	0.004
Age_G2:Diff_Pred_Obvs	(0.091)
Age_G3:Diff_Pred_Obvs	−0.128
Age_G3:Diff_Pred_Obvs	(0.090)
Predicted:Tenure2		−0.008
Predicted:Tenure2		(0.024)
Predicted:Tenure3		−0.003
Predicted:Tenure3		(0.021)
Predicted:Tenure4		0.005
Predicted:Tenure4		(0.020)
Tenure2:Diff_Pred_Obvs		0.174
Tenure2:Diff_Pred_Obvs		(0.124)
Tenure3:Diff_Pred_Obvs		0.097
Tenure3:Diff_Pred_Obvs		(0.106)
Tenure4:Diff_Pred_Obvs		0.001
Tenure4:Diff_Pred_Obvs		(0.104)
EPC_Bin1:Diff_Pred_Obvs	−0.464**	−0.011
EPC_Bin1:Diff_Pred_Obvs	(0.218)	(0.196)
EPC_Bin1:Age_G2	−0.109***
EPC_Bin1:Age_G2	(0.022)
EPC_Bin1:Age_G3	−0.159***
EPC_Bin1:Age_G3	(0.024)
EPC_Bin1:Age_G2:Diff_Pred_Obvs	0.592*
EPC_Bin1:Age_G2:Diff_Pred_Obvs	(0.327)
EPC_Bin1:Age_G3:Diff_Pred_Obvs	0.764**
EPC_Bin1:Age_G3:Diff_Pred_Obvs	(0.353)
EPC_Bin1:Tenure2		0.041*
EPC_Bin1:Tenure2		(0.024)
EPC_Bin1:Tenure3		−0.047*
EPC_Bin1:Tenure3		(0.026)
EPC_Bin1:Tenure4		0.037
EPC_Bin1:Tenure4		(0.041)
EPC_Bin1:Tenure2:Diff_Pred_Obvs		−0.622*
EPC_Bin1:Tenure2:Diff_Pred_Obvs		(0.365)
EPC_Bin1:Tenure3:Diff_Pred_Obvs		−0.243
EPC_Bin1:Tenure3:Diff_Pred_Obvs		(0.387)
EPC_Bin1:Tenure4:Diff_Pred_Obvs		−0.385
EPC_Bin1:Tenure4:Diff_Pred_Obvs		(0.622)
Constant	5.180***	5.999***
Constant	(0.575)	(0.541)
57306.52
Observations	41,646	41,646
R²	0.181	0.219
Adjusted R²	0.180	0.218
Residual Std. Error	0.481 (df = 41,606)	0.470 (df = 41,601)
F-statistic	235.448*** (df = 39; 41,606)	265.450*** (df = 44; 41,601)

Note(s): *p $<$ 0.1; **p $<$ 0.05; ***p $<$ 0.01

[ViewLarge]

Sharing Unavailable