Intercity Information Diffusion and Price Discovery in Housing Markets: Evidence from Google Searches
We provide an innovative measure of information flow in Chinese housing markets based on search records from the Internet search engine Google. The measure depicts a substantial flow of house-price related information from national “superstar” cities, such as Beijing and Shanghai, and regional “star...
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| Veröffentlicht in: | The journal of real estate finance and economics 2015-04, Vol.50 (3), p.289-306 |
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| container_title | The journal of real estate finance and economics |
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| creator | Wu, Jing Deng, Yongheng |
| description | We provide an innovative measure of information flow in Chinese housing markets based on search records from the Internet search engine Google. The measure depicts a substantial flow of house-price related information from national “superstar” cities, such as Beijing and Shanghai, and regional “star” cities, such as Tianjin and Chongqing, to other “normal” cities. The empirical results based on Granger causality test and turning point detection analysis both suggest that such information diffusion is a key factor that influences the intercity house price discovery process in the short run. The “superstar” and “star” cities lead the country in terms newly-built house prices changes in the sample period between 2006 and 2011. |
| doi_str_mv | 10.1007/s11146-014-9493-9 |
| format | Article |
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| ispartof | The journal of real estate finance and economics, 2015-04, Vol.50 (3), p.289-306 |
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| source | EBSCOhost Business Source Complete; Springer Nature - Complete Springer Journals |
| subjects | Causality China Cities Economic analysis Economics Economics and Finance Financial Services Housing Housing market Housing prices Information dissemination Internet Literature reviews Real estate market Regional/Spatial Science Search engines Searches Statistical analysis Trends |
| title | Intercity Information Diffusion and Price Discovery in Housing Markets: Evidence from Google Searches |
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