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Paper eres2007_203:
Predictability and Innovations in Office Market Performance

id eres2007_203
authors White, Michael; Edward Trevillion & Lulu Wang
year 2007
title Predictability and Innovations in Office Market Performance
source 14th Annual European Real Estate Society Conference in London, UK
summary This paper examines office market performance at a city level in Britain. Markets in Birmingham, Edinburgh, Glasgow, Leeds, Manchester, the City of London and the West End (of London) are examined. The paper analyses the key determinants affecting office markets and compares similarities and differences in performance across these British cities. We analyse market adjustment and the timings of changes in property performance indicators and determine the degree of predictability in such changes. In addition, we also allow for information innovations to change the strength and timing of relationships. We use time series econometrics and test for stationarity and cointegration. We explore VAR methodology to test for Granger-causality and an error correction approach to permit examination of short run deviations from long run equilibrium. We also apply panel estimation when appropriate. The paper then discusses the interrelationships between office markets in different cities and the role that information innovations play in changes to those interrelationships.
series ERES:conference
discussion No discussions. Post discussion ...
session Session C6: Modelling Office Markets I
last changed 2009/11/19 09:01
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