Hodrick Prescott Filter and Hedonic Regression Analysis on the Development of Office Rental Market of Hong Kong in the Recent Decade
New York, London and Hong Kong are three of the busiest financial centers in the world.The upswing and drop in office rent affect many businessmen who locate their business in these financial centers.As the demand for office space directly is affected by the economy, this paper review the business cycle and office rental cycle in Hong Kong with HP filter.After that, we examine the factors which affect the office rent by Hedonic Regression.Results show that business cycle comove with the rental cycle, unemployment rate and the office selling price are statistically significant to the office rent.
Hodrick and prescott filter Hedonic regression Office Rental market Panel data
Rita Yi Man Li
Department of Economics and Finance, Hong Kong Shue Yan University
国内会议
香港
英文
560-565
2011-07-08（万方平台首次上网日期，不代表论文的发表时间）