Read full paper at： http://www.scirp.org/journal/PaperInformation.aspx?PaperID=51185#.VFsmmWfHRK0 Author(s) Ali Shajarizadeh 1 , Marcel Voia 2 Affiliation(s) 1 Department of Economics, University of Calgary, Calgary, Canada . 2 Department of Economics, Carleton University, Ottawa, Canada . ABSTRACT Duration dependence affects the dynamics of multi sate time to event outcomes. In this paper we are testing if a contraction or an expansion state for the housing price is duration dependent on previous states lengths. This test has implications for explaining the dynamics and the predictability of the housing prices in subsequent spells of contraction/expansion. The test is carried on using a discrete time dura...
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