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Full-Text Articles in Regional Economics
Las Cruces Housing Price Fluctuations: 1971-2017, Steven L. Fullerton, James H. Holcomb, Thomas M. Fullerton Jr.
Las Cruces Housing Price Fluctuations: 1971-2017, Steven L. Fullerton, James H. Holcomb, Thomas M. Fullerton Jr.
Border Region Modeling Project
This study analyzes the median price for existing single-family housing units in Las Cruces, New Mexico. The proposed theoretical model accounts for the interplay between supply and demand sides of a metropolitan housing market. Explanatory variables used in the analysis are real per capita income, the housing stock, real mortgage rates, real apartment rents, and the median real price of single-family units in the United States. Annual frequency data are collected for a 1971-2017 sample period. Parameter estimation is completed using two stage generalized least squares. Empirical results confirm several, but not all, of the hypotheses associated with the underlying …
Residential Electricity Demand In El Paso: 1977-2014, Thomas M. Fullerton Jr., David R. Macias, Adam G. Walke
Residential Electricity Demand In El Paso: 1977-2014, Thomas M. Fullerton Jr., David R. Macias, Adam G. Walke
Border Region Modeling Project
This study analyzes the demand for residential electricity in El Paso, Texas, USA. Annual data are provided by El Paso Electric Company covering the period from 1977 to 2014. This study reports a negative long-run income elasticity for residential electricity demand. Per customer residential electricity usage declines by 0.68 percent for every 1-percent increase in real per capita income over the long run, indicating that electricity is treated as an inferior good by households in this metropolitan economy. That result runs counter to many earlier studies, but corroborates recent empirical evidence for Seattle, Washington and other regions of the United …
North Borderplex Retail Gasoline Price Fluctuations: 2000-2013, Thomas M. Fullerton Jr., A. A. Jiménez, Adam G. Walke
North Borderplex Retail Gasoline Price Fluctuations: 2000-2013, Thomas M. Fullerton Jr., A. A. Jiménez, Adam G. Walke
Border Region Modeling Project
Previous studies show that a variety of different variables influence retail gasoline price fluctuations. In the case of El Paso, Texas, those variables would include wholesale gasoline prices, local economic conditions, weather, and, more uniquely, cross-border economic variables associated with Ciudad Juarez, Chihuahua, in Mexico. To analyze the contributions of these variables to monthly price movements for gasoline in El Paso, a theoretical model is specified. From the latter construct, a reduced form equation is extracted. That specification is then expressed within an error correction framework to allow accounting for both long-run and short-run behaviors in this metropolitan economy. Results …
Inflationary Dynamics In Guatemala, Thomas M. Fullerton Jr., Miguel Martinez, Wm. Doyle Smith, Adam G. Walke
Inflationary Dynamics In Guatemala, Thomas M. Fullerton Jr., Miguel Martinez, Wm. Doyle Smith, Adam G. Walke
Departmental Papers (E & F)
Short-run price dynamics for Guatemala are analyzed using a linear transfer function methodology. This approach has previously been employed for other national economies such as the United States, Mexico, Colombia, Ecuador, and Nigeria. The data for this study range from 1960 to 2010. Inflation is measured using the consumer price index. Explanatory variables include the monetary base, real output, interest rates, and the exchange rate. All of the estimated coefficients exhibit the arithmetic signs hypothesized by the theoretical model. Almost all of the parameter estimates satisfy the 5-percent significance criterion and all exhibit economically plausible magnitudes. Estimation results indicate that …
Downtown Parking Meter Demand In El Paso, Thomas M. Fullerton Jr., E. Pallarez, Adam G. Walke
Downtown Parking Meter Demand In El Paso, Thomas M. Fullerton Jr., E. Pallarez, Adam G. Walke
Border Region Modeling Project
Prior research establishes that the price of parking in the city centre often impacts the decision to travel downtown and the mode of transportation utilized. Other factors that influence the decision to drive and park downtown have received less attention. This study uses time series data to analyse the demand for metered parking spaces in El Paso, Texas, USA. In addition to meter rates, the determinants of demand include personal income, gasoline prices, and the price of a substitute good, parking garage spaces. Because international bridges connect downtown El Paso to neighbouring Ciudad Juárez, Chihuahua, Mexico, the impacts of trans-boundary …