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Table 6 Results of cultural similarities and international housing price linkage

From: Cultural similarities and housing market linkage: evidence from OECD countries

lnRHP t Dyen (1) Dyen (2) Dyen (3) API (1) API (2) API (3) WF1 (1) WF1 (2) WF1 (3) WF2 (1) WF2 (2) WF2 (3)
CullnRHP t − 1 0.04*** 0.04*** 0.04*** 0.031*** 0.019* 0.037*** 0.01*** 0.01*** 0.01*** 0.05*** 0.05*** 0.05***
  (6.36) (4.73) (7.52) (3.81) (2.00) (5.27) (5.70) (5.68) (6.40) (5.66) (3.76) (6.88)
TralnRHP t − 1 −0.006    0.143*    0.157*    − 0.020   
  (−0.08)    (2.02)    (2.48)    (−0.25)   
GeolnRHP t − 1   0.001    0.017***    0.019***    0.002  
   (0.21)    (3.34)    (4.86)    (0.23)  
FDIlnRHP t − 1    0.001    0.002    0.001    0.001
    (1.22)    (1.81)    (0.65)    (1.00)
lnGDPpc t 0.330*** 0.322*** 0.312*** 0.337*** 0.289*** 0.372*** 0.379*** 0.297*** 0.454*** 0.288*** 0.278*** 0.272***
  (6.23) (5.88) (6.58) (6.25) (5.24) (7.94) (7.01) (5.56) (10.13) (5.35) (5.16) (5.36)
lnPD t 0.857*** 0.877*** 0.851*** 0.965*** 1.179*** 0.909*** 1.014*** 1.088*** 1.032*** 1.169*** 1.180*** 1.155***
  (5.84) (5.16) (5.86) (6.08) (6.75) (5.79) (7.30) (7.90) (7.41) (8.89) (8.35) (8.75)
LIR t −0.914*** − 0.917*** − 0.915*** − 0.992*** −1.002*** − 0.963*** − 1.174*** − 1.067*** − 1.209*** − 1.061*** − 1.061*** − 1.060***
  (−4.22) (−4.24) (−4.24) (−4.46) (−4.52) (−4.33) (−5.54) (−5.05) (−5.70) (−4.96) (−4.96) (−4.96)
Country-specific Effect Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes
Cons 0.357* 0.402 0.416** 0.288 1.131*** 0.529** 0.335* 1.074*** 0.609*** 0.502** 0.544 0.535***
  (2.26) (1.42) (2.81) (1.72) (4.36) (3.26) (2.10) (6.58) (4.33) (3.19) (1.78) (3.74)
N 828 828 828 828 828 828 828 828 828 828 828 828
  1. Notes. (1) t-statistics in parentheses, (2) *, ** and *** denote p < 0.05, p < 0.01 and p < 0.001, respectively (hereinafter)