Title of Paper: “Are Pre-pandemic Models Transferable to the Pandemic Period? Assessing the Temporal Transferability of the Housing Price Component of an Integrated Urban Model”
Authors: Orvin, M., & Fatmi, M.
Description: This study investigates temporal transferability of housing price micromodel of an integrated urban model (IUM). Models are developed for pre-pandemic and pandemic periods using housing sales data from 2016-2021 for Central Okanagan region. The key feature of the models is to accommodate unobserved heterogeneity and spatio-temporal correlation. The parameter estimation results of the two models suggest significant differences exist between two periods. For example, buyers are likely to spend more to reside in mixed land use areas during pre-pandemic period. During the pandemic, people are willing to spend more for areas with homogeneous land uses such as residential areas. Findings also provide empirical evidence on the need for re-estimation or re-calibration of the pre-pandemic model parameters prior to applying for the pandemic period.
Presentation Location: Hall A, Convention Center
Presentation Time: January 9th 2023, 10:15AM-12:00PM EST