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Record Nr. |
UNINA9910155014003321 |
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Autore |
Silver Mick |
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Titolo |
How to Better Measure Hedonic Residential Property Price Indexes / / Mick Silver |
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Pubbl/distr/stampa |
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Washington, D.C. : , : International Monetary Fund, , 2016 |
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ISBN |
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1-4755-5529-6 |
1-4755-5533-4 |
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Descrizione fisica |
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1 online resource (89 pages) : illustrations (some color), tables |
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Collana |
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Disciplina |
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Soggetti |
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Housing - Prices - Mathematical models |
Hedonic damages - Mathematical models |
Inflation (Finance) |
Investments: Metals |
Inflation |
Macroeconomics |
Real Estate |
Index Numbers and Aggregation |
leading indicators |
Prices, Business Fluctuations, and Cycles: General (includes Measurement and Data) |
Price Level |
Deflation |
Housing Supply and Markets |
Nonagricultural and Nonresidential Real Estate Markets |
Metals and Metal Products |
Cement |
Glass |
Ceramics |
Property & real estate |
Investment & securities |
Price indexes |
Land prices |
Consumer price indexes |
Silver |
Prices |
Commodities |
Housing |
Leading indicators |
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Lingua di pubblicazione |
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Formato |
Materiale a stampa |
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Livello bibliografico |
Monografia |
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Nota di bibliografia |
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Includes bibliographical references. |
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Sommario/riassunto |
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Hedonic regressions are used for property price index measurement to control for changes in the quality-mix of properties transacted. The paper consolidates the hedonic time dummy approach, characteristics approach, and imputation approaches. A practical hedonic methodology is proposed that (i) is weighted at a basic level; (ii) has a new (quasi-) superlative form and thus mitigates substitution bias; (iii) is suitable for sparse data in thin markets; and (iv) only requires the periodic estimation of hedonic regressions for reference periods and is not subject to the vagrancies of misspecification and estimation issues. |
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