Spatial clustering of housing construction in the Tokyo Metropolitan Area : an application of spatially clustered fixed-effects and spatially correlated random-effects models

摘要

We propose two types of econometric model, a spatially clustered fixed-effects model and a spatially correlated random-effects model, to examine area-based panel data. We investigate what factors influence housing construction in the Tokyo Metropolitan Area, incorporating unobservable factors, local regulatory differences in housing development and spillovers of local public or private goods, which may cause spatial clustering or correlation of housing construction. The unobservable area-effects are large in the east,west and north areas of the TMA but small in the south, where regulations against development are more severe than in the other areas. Clusters are found in huge cities.