{"title":"The COVID-19 pandemic and house price convergence in Poland","authors":"Mateusz Tomal","doi":"10.1007/s10901-023-10090-6","DOIUrl":null,"url":null,"abstract":"<p>The effect of the COVID-19 pandemic on price convergence in the housing market is largely unknown. This paper aims to assess the impact of the pandemic on the convergence of sales and rental housing prices. The residential markets in Polish voivodeship capitals were chosen as a case study. The convergence evaluation was based on a local linear version of the log <i>t</i> regression test, which allowed the estimation of a time-varying convergence speed parameter. The causal effect of the pandemic on convergence was examined using a Bayesian structural time series model. The study results revealed that the pandemic led to divergence in the primary sales housing market, growth convergence in the secondary sales housing market, and a weakening growth convergence in the rental housing market. Finally, this paper provides the R function logt that enables running the local linear and dummy variable log <i>t</i> regression tests.</p>","PeriodicalId":1,"journal":{"name":"Accounts of Chemical Research","volume":null,"pages":null},"PeriodicalIF":16.4000,"publicationDate":"2023-11-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Accounts of Chemical Research","FirstCategoryId":"96","ListUrlMain":"https://doi.org/10.1007/s10901-023-10090-6","RegionNum":1,"RegionCategory":"化学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"CHEMISTRY, MULTIDISCIPLINARY","Score":null,"Total":0}
引用次数: 0
Abstract
The effect of the COVID-19 pandemic on price convergence in the housing market is largely unknown. This paper aims to assess the impact of the pandemic on the convergence of sales and rental housing prices. The residential markets in Polish voivodeship capitals were chosen as a case study. The convergence evaluation was based on a local linear version of the log t regression test, which allowed the estimation of a time-varying convergence speed parameter. The causal effect of the pandemic on convergence was examined using a Bayesian structural time series model. The study results revealed that the pandemic led to divergence in the primary sales housing market, growth convergence in the secondary sales housing market, and a weakening growth convergence in the rental housing market. Finally, this paper provides the R function logt that enables running the local linear and dummy variable log t regression tests.
期刊介绍：
Accounts of Chemical Research presents short, concise and critical articles offering easy-to-read overviews of basic research and applications in all areas of chemistry and biochemistry. These short reviews focus on research from the author’s own laboratory and are designed to teach the reader about a research project. In addition, Accounts of Chemical Research publishes commentaries that give an informed opinion on a current research problem. Special Issues online are devoted to a single topic of unusual activity and significance.
Accounts of Chemical Research replaces the traditional article abstract with an article "Conspectus." These entries synopsize the research affording the reader a closer look at the content and significance of an article. Through this provision of a more detailed description of the article contents, the Conspectus enhances the article's discoverability by search engines and the exposure for the research.
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