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ISSN: 1549-3644 (Print)
ISSN: 1558-6359 (Online)
Research Article Open Access

A VAR Model for Forecasting Land Market Value in USA

Lei Wang1
  • 1 The University of Southern Mississippi, United States

Abstract

Forecasts of the future tendency of economic variables such as GDP, inflation rate and unemployment rate, arise many interests from business and government. Also, Modeling the land market at the national level can capture rich dynamic presenting in interdependent economies. In this paper, we studied a Vector Auto-regression (VAR) of Land Market Value and five US macroeconomic variables. We employed the VAR model for forecasting Land Market Value in USA and analyzed annual data on the main macroeconomic variables of interest going back to 1982. Most importantly, we explore the mutual influence between Land market value and selected macroeconomics variables to enable government and investor to make informed decision regarding real estate market.

Journal of Mathematics and Statistics
Volume 14 No. 1, 2018, 1-6

DOI: https://doi.org/10.3844/jmssp.2018.1.6

Submitted On: 26 October 2017 Published On: 1 January 2018

How to Cite: Wang, L. (2018). A VAR Model for Forecasting Land Market Value in USA. Journal of Mathematics and Statistics, 14(1), 1-6. https://doi.org/10.3844/jmssp.2018.1.6

Open AccessCopyright: © 2018 Lei Wang. This is an open access article distributed under the terms of the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited.

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Keywords

  • VAR Model
  • Land Market Value
  • Multivariate Time Series
  • Analysis