Economics, Econometrics and Finance
3 years ago

Spatial volatility model predicts future house prices in Chicago with accuracy.

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SSRN Electronic Journal
Bayesian Inference in Spatial Stochastic Volatility Models with an Application to House Price Returns in Chicago
Süleyman Taşpınar, Osman Doğan, Jiyoung Chae, Anil K. Bera

Paper Summary

The researchers developed a model to predict house price returns in Chicago by considering spatial patterns in volatility. They used a Bayesian method to estimate the model and found that it accurately predicted house price returns in the Chicago area.

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