Housing Risk and Its Influence on House Price: An Expected Utility Approach

Table 4

Nonstationary heterogeneous panel model, ln(UCC), 2002–2018.

Coefficient	Eq. (28), UCC by (26)	Eq. (28), UCC by (27)
β1	0.733 (4.6)	0.687 (4.4)
β2	−0.039 (1.9)	−0.063 (2.8)
Η	−0.427 (11.3)	−0.387 (10.1)
a1	0.821 (25.4)	0.791 (19.8)
a2	−0.217 (3.1)	−0.337 (3.9)
Constant	−0.534 (4.2)	−0.568 (4.0)
R^2 (within)	0.288	0.306

∣t∣ given in parentheses; , , and are significant at 10%, 5%, and 1% levels.