[PDF] A More Timely House Price Index eBook

Author : Elliot Anenberg
Publisher :
Page : 45 pages
File Size : 48,58 MB
Release : 2016
Category :
ISBN :

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Using listings data, we construct a new repeat-sales house price index that describes house values at the contract date when the price is determined rather than the closing date when the property is transferred. We show that this difference in timing helps explain several puzzles about house prices including their strong short-term serial correlation and their weak correlation with stock prices and macroeconomic news shocks. In addition, we show that a variant of our index that relies exclusively on listings data for recent transactions accurately reveals trends in house prices several months before existing price indexes like Case-Shiller become available.

Author : Thomas G. Thibodeau
Publisher : Springer Science & Business Media
Page : 266 pages
File Size : 43,2 MB
Release : 1997-03-31
Category : Business & Economics
ISBN : 9780792398837

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This book contains a special issue of the Journal of Real Estate Finance and Economics, comprising thirteen articles on house price measurement. These articles address the various procedures used to compute cross-sectional or temporal house price indices. Specifically, these articles contain research that: (1) evaluates hedonic, repeat sales, or hybrid approaches to constructing house price indices; (2) evaluates alternative sources of data on house prices and corresponding housing characteristics; (3) identifies the most influential land, structural, neighborhood, and proximity determinants of house prices (and associated changes in house prices); (4) provides a methodology for identifying housing market segments; (5) incorporates spatial autocorrelation in house price indices; and (6) provides more accurate estimates of the variance in house prices.

Author : OECD
Publisher : OECD Publishing
Page : 186 pages
File Size : 14,28 MB
Release : 2013-04-22
Category :
ISBN : 9264197184

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This Handbook provides, for the first time, comprehensive guidelines for the compilation of Residential Property Price Indexes and explains in depth the methods and best practices used to calculate an RPPI.

Author : Mick Silver
Publisher : International Monetary Fund
Page : 36 pages
File Size : 45,26 MB
Release : 2012-05-01
Category : Business & Economics
ISBN : 1475593643

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A key element in the build-up to the global recession and subsequently was the movement in house price indexes (HPIs). These indexes are particularly prone to methodological and coverage differences which can undermine both within-country and cross-country economic analysis. The paper outlines key measurement issues and reports on empirical work using an international panel data set that (i) considers whether differences in HPI measurement matter and, if so, in what way, and (ii) revisits the measurement of global house price inflation and the modeling of the determinants of house price inflation using HPIs corrected for differences in measurement practice.

Author : Anthony Owusu-Ansah
Publisher : Routledge
Page : 210 pages
File Size : 38,62 MB
Release : 2018-07-11
Category : Business & Economics
ISBN : 1351591002

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The importance of house prices to households, real estate developers, banks and policy-makers cannot be overemphasised. House price changes affect consumer spending and business investment patterns, which in turn affect the wider macro economy and the entire business cycle. Measuring and understanding house prices is therefore essential to a functioning economy, but researchers continue to disagree on the best methodological approach for constructing real estate indices. This book argues the need for more accurate house price indices, outlines the various methods used to construct indices and discusses the existing house price indices around the globe. It shows how the raw data of property transactions can be prepared for the purpose of constructing indices, discusses various applications of property price indices and empirically demonstrates how the index numbers can be used to model the supply of new houses and to estimate the price elasticity of supply. Essential reading for economists, real estate professionals and researchers, and policy-makers.

Author : Avi Goldfarb
Publisher : University of Chicago Press
Page : 510 pages
File Size : 27,29 MB
Release : 2015-05-08
Category : Business & Economics
ISBN : 022620684X

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There is a small and growing literature that explores the impact of digitization in a variety of contexts, but its economic consequences, surprisingly, remain poorly understood. This volume aims to set the agenda for research in the economics of digitization, with each chapter identifying a promising area of research. "Economics of Digitization "identifies urgent topics with research already underway that warrant further exploration from economists. In addition to the growing importance of digitization itself, digital technologies have some features that suggest that many well-studied economic models may not apply and, indeed, so many aspects of the digital economy throw normal economics in a loop. "Economics of Digitization" will be one of the first to focus on the economic implications of digitization and to bring together leading scholars in the economics of digitization to explore emerging research.