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Johansson, Jörgen
Sandberg, Krister
Year of Publication: 
Series/Report no.: 
41st Congress of the European Regional Science Association: "European Regional Development Issues in the New Millennium and their Impact on Economic Policy", 29 August - 1 September 2001, Zagreb, Croatia
This paper explains the hedonic prices for co-operative flats in the city of Umeå, Sweden during 1998 and 1999. Structural and neighbourhood characteristics together with accessibility measures are used as attributes in the hedonic price function. Since there are indications of spatial dependence the OLS model is inappropriate. Instead a spatial econometric approach with Spatial Autoregressive GMM estimation is used. Two attractive nodes are found in the city. Thus there are sign supporting the view that Umeå has developed into a multi-nodal structure. Keywords: Hedonic prices, Co-operative flats, Spatial dependence, SAR-GMM JEL Classification: D46, D61, R20, R21
Document Type: 
Conference Paper

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