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In this paper, we implement a new measure, the rental equivalence approach, in estimating the cost of Irish housing for the purposes of the consumer price index (CPI). The cost of housing composes both the cost of owner occupier housing (OOH) as well as the cost of renting. This work, which is...
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assumptions about functional form. We find that rent for a typical housing unit at first falls rapidly with age, flattens, and … then begins to rise with age for older units. This nonmonotonic pattern is a feature of many other studies of both age-rent … eliminated when we attempt to control for major improvements by excluding housing units that see very large jumps in rent. Third …
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