Intercity Information Diffusion and Price Discovery in Housing Markets: Evidence from Google Searches
作者： Jing Wu , Yongheng Deng
DOI: 10.1007/S11146-014-9493-9
关键词: Beijing 、 The Internet 、 Price discovery 、 Marketing 、 Information flow (information theory) 、 Short run 、 Economics 、 Sample (statistics) 、 Financial economics 、 Business process discovery 、 Granger causality
摘要: We provide an innovative measure of information flow in Chinese housing markets based on search records from the Internet engine Google. The depicts a substantial house-price related national “superstar” cities, such as Beijing and Shanghai, regional “star” Tianjin Chongqing, to other “normal” cities. empirical results Granger causality test turning point detection analysis both suggest that diffusion is key factor influences intercity house price discovery process short run. cities lead country terms newly-built prices changes sample period between 2006 2011.
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