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House Prices in a Small Island Economy: The Isle of Man
Author(s) -
JOHNES GERAINT
Publication year - 1991
Publication title -
growth and change
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.657
H-Index - 55
eISSN - 1468-2257
pISSN - 0017-4815
DOI - 10.1111/j.1468-2257.1991.tb00548.x
Subject(s) - cointegration , economics , order (exchange) , economy , population , small island , econometrics , economic geography , demography , sociology , finance
Cointegration techniques are used in order to estimate a long‐run equation explaining the movement of average house prices in the Isle of Man. The tendency for the population of a small island economy to fluctuate sharply introduces into the process of price determination a number of features which are not replicated in larger economies.