House Price Indices: Does Measurement Matter?
A key factor in understanding the global recession is movements in residential property price indexes (RPPIs). Of concern is that more than one national RPPI is often compiled and disseminated for a country, each differing in regard to their methodology, and thus results. Key methodological issues include the: (i) use of stocks or flows and values or quantities for weights; (ii) method of enabling constant quality measures; (iii) coverage in terms of geography, type of housing and financing; and (iv) valuation of prices. The paper outlines such issues by way of three case studies: the United Kingdom, the United States and the Russian Federation.
Year of publication: |
2011
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Authors: | Silver, Mick |
Published in: |
World Economics. - World Economics, Economic & Financial Publishing, 1 Ivory Square, Plantation Wharf, London, United Kingdom, SW11 3UE. - Vol. 12.2011, 3, p. 69-86
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Publisher: |
World Economics, Economic & Financial Publishing, 1 Ivory Square, Plantation Wharf, London, United Kingdom, SW11 3UE |
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