Download This PaperForecasting Housing Prices with Google Econometrics
38 Pages Posted: 25 Jul 2009 Last revised: 25 May 2015
Abstract
In this research note we report on our current efforts on developing a leading indicator of housing prices that could be used to forecast housing prices. Specifically we use Google search index at city level to predict Case-Shiller index. The methodology is based on Granger causality where we carry out two way regressions with lagged variables and joint F-tests to determine the direction of causality.
Keywords: Case-Shiller Index, Granger Causality, Google econometrics, HPI, Search engine
JEL Classification: C10, C20, C30, C40, C50
Suggested Citation: Suggested Citation
Rajendra Kulkarni (Contact Author)
Schar School of Policy & Government, GMU ( email )
Founders Hall
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Kingsley E. Haynes
Schar School of Policy and Government, George Mason University ( email )
Founders Hall
3351 Fairfax Dr.
Arlington, VA 22201
United States
Roger R. Stough
George Mason University - School of Policy, Government, and International Affairs ( email )
Founders Hall
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Arlington, VA 22201
United States
703-993-2268 (Phone)
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CESifo (Center for Economic Studies and Ifo Institute)
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Germany