The impact of the 2008 financial crisis on housing prices in China and Taiwan: A quantile regression analysis

Hsin-Hong Kang, Shu Bing Liu

Research output: Contribution to journalArticle

15 Citations (Scopus)

Abstract

This paper adopts quantile regression to investigate the impact of the 2008 financial crisis on housing prices at difference price levels in China and Taiwan, and employs data from the period July 2005-December 2010. According to the empirical results, the ordinary least squares estimates are similar to those achieved from quantile regression. However, the conditional mean-focused regressions do not capture the results that are obtained by using quantile regressions. The empirical results indicate that in Taiwan the housing prices were more affected by the financial crisis when the prices of real estate were high, but in China the housing prices were less affected by the crisis when the prices were high.

Original languageEnglish
Pages (from-to)356-362
Number of pages7
JournalEconomic Modelling
Volume42
DOIs
Publication statusPublished - 2014 Jan 1

Fingerprint

Financial crisis
China
Taiwan
Regression analysis
Quantile regression
Housing prices
Empirical results
Ordinary least squares
Price level
Real estate

All Science Journal Classification (ASJC) codes

  • Economics and Econometrics

Cite this

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The impact of the 2008 financial crisis on housing prices in China and Taiwan : A quantile regression analysis. / Kang, Hsin-Hong; Liu, Shu Bing.

In: Economic Modelling, Vol. 42, 01.01.2014, p. 356-362.

Research output: Contribution to journalArticle

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