Price Indices Based On The Hedonic Repeat Sales Method
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Price Indexes Based on the Hedonic Repeat Sales Method
| Author | : John M. Clapp |
| Publisher | : |
| Total Pages | : |
| Release | : 1998 |
| Genre | : |
| ISBN | : |
Shiller (1993) proposes the hedonic repeated measures (HRM) approach to measuring constant quality price indexes for heterogeneous assets such as some bonds and real estate. We derive a mathematical relationship between the coefficents of the HRM model and those from the standard repeat sales model, and we demonstrate how hedonic characteristics should be chosen for inclusion in the HRM model. Empirical estimates using Fairfax, Virginia, housing transactions data show that the HRM price index evaluated at the mean of the hedonic variable is virtually identical to the standard repeat sales index, just as predicted by our mathematical relationship. But the HRM allows estimation of different price paths for heterogenous assets.
House Price Indices
| Author | : Thomas G. Thibodeau |
| Publisher | : Springer Science & Business Media |
| Total Pages | : 266 |
| Release | : 1997-03-31 |
| Genre | : Business & Economics |
| ISBN | : 9780792398837 |
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.
Index Number Theory and Price Statistics
| Author | : Peter M von der Lippe |
| Publisher | : Walter de Gruyter GmbH & Co KG |
| Total Pages | : 193 |
| Release | : 2016-11-21 |
| Genre | : Business & Economics |
| ISBN | : 3110511126 |
Handbook on Residential Property Price Indices
| Author | : OECD |
| Publisher | : OECD Publishing |
| Total Pages | : 186 |
| Release | : 2013-04-22 |
| Genre | : |
| ISBN | : 9264197184 |
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.
Repeat Sales House Price Index Methodology
| Author | : Chaitra Nagaraja |
| Publisher | : |
| Total Pages | : 25 |
| Release | : 2014 |
| Genre | : |
| ISBN | : |
We compare four traditional repeat sales indices to a recently developed autoregressive index that makes use of the repeat sales methodology but incorporates single sales and a location effect. Qualitative comparisons on statistical issues including the effect of gap time on sales, use of hedonic information, and treatment of single and repeat sales are addressed. Furthermore, predictive ability is used as a quantitative metric in the analysis using data from home sales in 20 metropolitan areas in the United States.The indices tend to track each other over time; however, the differences are substantial enough to be of interest, and we find that the autoregressive index performs best overall.
Construction and Application of Property Price Indices
| Author | : Anthony Owusu-Ansah |
| Publisher | : Routledge |
| Total Pages | : 210 |
| Release | : 2018-07-11 |
| Genre | : Business & Economics |
| ISBN | : 1351591002 |
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.
Topics in Applied Statistics
| Author | : Mingxiu Hu |
| Publisher | : Springer Science & Business Media |
| Total Pages | : 340 |
| Release | : 2013-09-14 |
| Genre | : Medical |
| ISBN | : 1461478464 |
This volume presents 27 selected papers in topics that range from statistical applications in business and finance to applications in clinical trials and biomarker analysis. All papers feature original, peer-reviewed content. The editors intentionally selected papers that cover many topics so that the volume will serve the whole statistical community and a variety of research interests. The papers represent select contributions to the 21st ICSA Applied Statistics Symposium. The International Chinese Statistical Association (ICSA) Symposium took place between the 23rd and 26th of June, 2012 in Boston, Massachusetts. It was co-sponsored by the International Society for Biopharmaceutical Statistics (ISBS) and American Statistical Association (ASA). This is the inaugural proceedings volume to share research from the ICSA Applied Statistics Symposium.
Measuring and Explaining House Price Developments
| Author | : Paul de Vries |
| Publisher | : IOS Press |
| Total Pages | : 227 |
| Release | : 2010 |
| Genre | : Political Science |
| ISBN | : 1607506653 |
This study discusses ways of measuring and explaining the development of house prices. The goal of the research underpinning this dissertation was to develop a methodological framework for studying these developments. This framework relates, first, to correcting for changes in the composition of dwellings and, second, to the fundamentals of the price development. Using the weighted repeat sales method and sale price appraisal ratio (SPAR) method, house price indexes were developed for the Netherlands. Both the Dutch land registry office and Statistics Netherlands publish the SPAR based house price index monthly. To explain and predict changes in prices, a house price model is presented. As suggested in literature on western housing markets, the Dutch house price developments can be explained by demand-oriented short-run term variables and a long-run term variable.
Alternative Investments
| Author | : Donald R. Chambers |
| Publisher | : John Wiley & Sons |
| Total Pages | : 1029 |
| Release | : 2020-03-16 |
| Genre | : Business & Economics |
| ISBN | : 111960415X |
Alternative Investments: CAIA Level I, 4th Edition is the curriculum book for the Chartered Alternative Investment Analyst (CAIA) Level I professional examination. Covering the fundamentals of the alternative investment space, this book helps you build a foundation in alternative investment markets. You'll look closely at the different types of hedge fund strategies and the range of statistics used to define investment performance as you gain a deep familiarity with alternative investment terms and develop the computational ability to solve investment problems. From strategy characteristics to portfolio management strategies, this book contains the core material you will need to succeed on the CAIA Level I exam. This updated fourth edition tracks to the latest version of the exam and is accompanied by the following ancillaries: a workbook, study guide, learning objectives, and an ethics handbook.
