A Test of Omitted Macroeconomic Variables in Marketing Time of Residential Housing
Journal
證券市場發展季刊
Journal Volume
17
Journal Issue
1
Pages
105-126
Date Issued
2005
Author(s)
紀志毅
Abstract
We propose a new approach to testing whether there are omitted macroeconomic variables in the duration models analyzing what affects marketing time of residential housing. Unlike previous approaches, which use the length of the data sets as the criterion for whether to consider macroeconomic effects and select ＂reasonable＂ macroeconomic variables when the data sets are ＂long,＂ our method provides clear criteria for whether there are enough macroeconomic variables and whether there is a need to add variables in the models. It also serves as a complementary tool to RESET.
SDGs
Type
journal article