RDP 2013-04: Home Prices and Household Spending Appendix B: Regression Output – Home-price Model

Table B1: Home-price Model
Parameters Coefficients Parameters Coefficients
Δ(irt) −0.068***
(−8.92)
8
 
0.129***
(5.85)
age 0.825***
(5.19)
9
 
0.142***
(6.26)
age2 −0.029***
(−4.81)
10
 
0.181***
(8.39)
age3 0.001***
(4.47)
11
 
0.197***
(8.90)
age4 −0.000***
(−4.18)
12
 
0.173***
(8.04)
age5 0.000***
(3.92)
13
 
0.216***
(9.64)
urt −0.085***
(−11.48)
14
 
0.255***
(10.64)
Dummy: log real
financial asset vigintile:
  15
 
0.211***
(9.04)
2 0.079***
(3.49)
16
 
0.243***
 
3 0.040*
(1.87)
17
 
(10.62)
0.278***
4 0.049**
(2.20)
18
 
(12.16)
0.274***
5 0.115***
(5.20)
19
 
(11.37)
0.338***
6 0.103***
(4.71)
20
 
(13.15)
0.455***
7 0.142***
(6.25)
  (16.90)
 
Constant 4.560***
(2.84)
Obs
Adj R2
12,824
0.538

Notes: ***, ** and * indicate significance at the 1, 5 and 10 per cent level, respectively; t statistics in parentheses; dependent variable: ln(HPit); regional dummy variables and dummies for real disposable income vigintiles omitted from table

Sources: HILDA Release 10.0; authors' calculations