How to Better Measure Hedonic Residential Property Price Indexes / / Mick Silver

• Autore: Silver Mick
• Pubblicazione: Washington, D.C. : , : International Monetary Fund, , 2016
• Descrizione fisica: 1 online resource (89 pages) : illustrations (some color), tables
• Disciplina: 339.31
• Soggetto topico: 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
• Soggetto geografico: United States
• Nota di bibliografia: Includes bibliographical references.
• Sommario/riassunto: 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.
• Titolo autorizzato: How to Better Measure Hedonic Residential Property Price Indexes
• ISBN: 1-4755-5533-4
• Formato: Materiale a stampa
• Livello bibliografico: Monografia
• Lingua di pubblicazione: Inglese
• Record Nr.: 9910155014003321
• Lo trovi qui: Univ. Federico II
• Serie: IMF Working Papers; Working Paper ; ; No. 2016/213