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Analysis of housing prices by GEE and GLMM methodologies: a longitudinal study
Author(s) -
Pardo M.C.,
Pérez T.
Publication year - 2012
Publication title -
applied stochastic models in business and industry
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.413
H-Index - 40
eISSN - 1526-4025
pISSN - 1524-1904
DOI - 10.1002/asmb.1940
Subject(s) - gee , econometrics , generalized estimating equation , longitudinal data , economics , sample (material) , statistics , mathematics , panel data , house price , generalized linear mixed model , generalized linear model , demography , sociology , chemistry , chromatography
The Spanish economic crisis has led to a significant reduction in housing sales, and therefore, there has been a decrease in housing prices. In this paper, we analyze changes in the average housing price throughout Spain. We use quarterly data from a random sample of 150 municipalities from the first quarter (Q1) of 2005, before the financial crisis started, to Q1 2010. Our analysis uses generalized estimating equation and generalized linear mixed model approaches. Data published for Q2, Q3, and Q4 2010 are compared with the data fitted using these models. Finally, the methods are compared with time‐series models. Copyright © 2012 John Wiley & Sons, Ltd.