Accurate calculation of economic depreciation is essential for developing estimates of capital income, and stocks, and, by extension, for developing tax policy and financial accounting procedures. Accurate depreciation values are also necessary in empirical studies of economic growth and capital...

"As real estate forms a significant part of the asset portfolios of most investors and lenders, it is crucial that analysts and institutions employ sound techniques for modelling and forecasting the performance of real estate assets. Assuming only a basic understanding of econometrics, this book...