Has SARS Infected the Housing Market? Evidence from Hong Kong
23 Pages Posted: 3 Jul 2011
Date Written: January 1, 2008
Abstract
This paper uses the 2003 Hong Kong Severe Acute Respiratory Syndrome (SARS) epidemic as a natural experiment to investigate how housing markets react to extreme events. An analysis of transaction volume suggests that the absence of price overreaction is likely to be related to housing market characteristics, including transaction costs, credit constraints and loss aversion.
JEL Classification: R31, R21
Suggested Citation: Suggested Citation
Bucchianeri, Grace Wong, Has SARS Infected the Housing Market? Evidence from Hong Kong (January 1, 2008). Journal of Urban Economics, Vol. 63, No. 1, p. 74, 2008, Available at SSRN: https://ssrn.com/abstract=1877212
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