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Until the end of 1977, the method used in the U.S. consumer price index (CPI) to measure rent inflation tended to omit rent increases when units had a change of tenants or were vacant. Since such units typically had more rapid increases in rents than average units, this response bias biased...
Persistent link: https://www.econbiz.de/10005717412
Persistent link: https://www.econbiz.de/10005721260
In this paper, the authors use credit rating data from two Swedish banks to elicit evidence on banks' loan monitoring ability. They test the banks' ability to forecast credit bureau ratings, and vice versa, and show that bank ratings are able to predict future credit bureau ratings. This is...
Persistent link: https://www.econbiz.de/10008504610
Over the course of the recent house price bubble in the United States, the price of homes rose rapidly from 1999 Q4 to 2005 Q4 (11.3% annually as measured by the Case-Shiller index, and 8.4% annually as measured by the Federal Housing Financing Agency) but slowly as measured by owner equivalent...
Persistent link: https://www.econbiz.de/10008521575
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Technology effects, business process development, and productivity growth are considered in the context of a single company: Wal-Mart. The starting point is the 2001 McKinsey Global Institute report, which finds that over 1995-2000, a quarter of U.S. productivity growth is attributable to the...
Persistent link: https://www.econbiz.de/10009200998
The Innovation Union initiative of the European Union focuses on product and process innovation for tangible goods. The authors argue that it is essential to extend the scope of the initiative to include innovation for financial sector products, processes, and regulatory approaches. They make...
Persistent link: https://www.econbiz.de/10010558510
This paper explores the link between the house-price expectations of mortgage lenders and the extent of subprime lending. It argues that bubble conditions in the housing market are likely to spur subprime lending, with favorable price expectations easing the default concerns of lenders and thus...
Persistent link: https://www.econbiz.de/10008862189
We use a large scanner price dataset to study grocery price dynamics. Previous analyses based on store scanner data emphasize differences in price dynamics across products. However, we also document large differences in price movements across different grocery store chains. A variance...
Persistent link: https://www.econbiz.de/10008866583
Until the end of 1977, the U.S. consumer price index (CPI) for rents tended to omit rent increases when units had a change of tenants or were vacant, biasing inflation estimates downward. Beginning in 1978, the Bureau of Labor Statistics (BLS) implemented a series of methodological changes that...
Persistent link: https://www.econbiz.de/10008740472