Subject: weighted-average land price indicators; discounted present value of land; cointegration analysis; error-correction model
jel: jel:C32 | jel:E39
This paper examines the long-term relationship between macro economic fundamentals and the weighted-average land price indicators, which are supposed to be more appropriate than the official land price indicators when analyzing their impacts on the macro economy. In man... View more
10 15 20 25 30 Population share, SNA share (Note) The weights are calculated for 13 regions (average from 1980 to 1992): Hokkaido, Tohoku, Ibaraki-Tochigi-Gunma, Saitama-Chiba-Kanagawa, Tokyo, Yamanashi and Nagano, Chubu, Hokuriku, Kinki, Chugoku, Shikoku, Kyushu, and Okinawa.
0 1985 1990 1995 2000 SNA W eighted-average land prices Officially publis hed land prices