Table 9 Results of housing supply elasticity, cultural similarities and international housing price linkage

0.057^***

0.060^***

0.054^***

0.058^***

0.048^***

0.064^***

0.014^***

0.012^**

0.016^***

0.058^***

0.054^***

0.056^***

(7.76)

(6.35)

(8.95)

(5.97)

(4.25)

(7.63)

(3.73)

(3.23)

(4.22)

(5.88)

(4.11)

(6.95)

SupE1∗

CullnRHP _t − 1

−0.019^***

−0.019^***

−0.021^***

−0.027^***

−0.025^***

−0.031^***

−0.005

−0.003

−0.006

−0.013

−0.013

−0.016^*

(−4.36)

(−4.38)

(−4.70)

(−4.95)

(−4.57)

(−5.70)

(−0.98)

(− 0.55)

(−1.13)

(−1.70)

(−1.73)

(−2.00)

−0.038

0.095

0.158^*

−0.007

(−0.51)

(1.35)

(2.49)

(−0.09)

−0.004

0.012^*

0.019^***

0.002

(−0.65)

(2.32)

(4.79)

(0.30)

0.003^*

0.004^**

0.001

0.002

(2.18)

(2.96)

(0.89)

(1.43)

0.300^***

0.306^***

0.253^***

0.301^***

0.268^***

0.288^***

0.372^***

0.296^***

0.442^***

0.277^***

0.269^***

0.258^***

(5.68)

(5.63)

(5.22)

(5.61)

(4.91)

(5.98)

(6.83)

(5.52)

(9.58)

(5.13)

(4.98)

(5.06)

0.970^***

0.925^***

0.979^***

1.077^***

1.221^***

1.052^***

1.039^***

1.101^***

1.060^***

1.227^***

1.243^***

1.219^***

(6.58)

(5.49)

(6.71)

(6.82)

(7.06)

(6.74)

(7.35)

(7.87)

(7.49)

(9.04)

(8.52)

(8.99)

−0.801^***

−0.799^***

−0.798^***

−0.858^***

−0.874^***

−0.820^***

−1.149^***

−1.054^***

−1.178^***

−1.029^***

−1.027^***

−1.019^***

(−3.72)

(−3.70)

(−3.72)

(−3.88)

(−3.96)

(−3.74)

(−5.38)

(−4.96)

(−5.50)

(−4.80)

(−4.79)

(−4.76)

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

0.213

0.009

0.276

0.103

0.704^**

0.324^*

0.287

1.043^***

0.570^***

0.443^**

0.519

0.508^***

(1.33)

(0.03)

(1.85)

(0.61)

(2.58)

(1.99)

(1.73)

(6.05)

(3.93)

(2.76)

(1.70)

(3.54)

828

828

828

828

828

828

828

828

828

828

828

828