Housing Price Diffusion among Yangtze River Delta Region with the Directed Acyclic Graphs

摘要

This paper investigates the housing price transmission in the Yangtze River Delta Region. The directed acyclic graphs and dynamic causality test is used in providing contemporaneous and dynamic causal structure of the house price index. The empirical results reveal that the "core district" Shanghai has a significant influence on other districts and there are stronger dynamic linkages between NJ,WX and YZ as they belong to the same Jiangshu province.