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Economic research - Ekonomska istraživanja, Vol. 31. No. 1, 2018.

Original scientific paper

https://doi.org/10.1080/1331677X.2018.1429289

Market depth in the UK housing market

Huey-Cherng Tsai ; Department of Finance, Southern Taiwan University of Science and Technology, Tainan, Taiwan
I-Chun Tsai orcid id orcid.org/0000-0001-8277-2327 ; Department of Finance, National University of Kaohsiung, Kaohsiung, Taiwan

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page 406-427

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Abstract

This study uses regional data from the UK housing market to analyse
market depth. Market depth is the trading volume required to move
market prices by one unit. Two methods are applied in this study to
analyse the depth of the housing market. First, the responsiveness
of housing prices to changes in volume is measured. Second,
the relationships between the housing price deviations from the
fundamental level and the trading volume are estimated. The results
of this article show that a thinner housing market indicates more
housing price deviations caused by temporary changes in volume.

Keywords

Market depth; price–volume relationship; quantile regression; mean group panel fully modified estimation

Hrčak ID:

200680

URI

https://hrcak.srce.hr/200680

Publication date:

3.12.2018.

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