抄録
This study offers a new perspective on the debate over long-run regional house price convergence in the UK. In contrast to other studies that proceed at a more aggregated level, this study employs quarterly data for fifty one counties from England, Scotland and Wales. A new pair-wise unit root testing procedure advocated by Pesaran (2007) is employed on all possible bivariate house price differentials. Evidence in favour of the long-run convergence is confirmed where the fraction of rejections exceeds the size of the individual tests.
JEL Classification: C5, R0
