Understanding the spatial variation in housing prices plays a crucial role in topics ranging from the cost of living to quality-of-life indices to studies of public goods and household mobility. Yet analysts have not reached a consensus on the best source of such data, variously using...

The time evolution of prices and savings in a stock market is modeled by a discrete-delay nonlinear dynamic system. The proposed model has a unique and unstable steady-state, so its time evolution is determined by the nonlinear effects acting out of the equilibrium. We perform the analysis of...

This study employs the multivariate threshold model developed by Tsay (1998) to examine the effects of international and domestic oil prices on the price indices in Taiwan using monthly data from January 1999 to December 2011. The results show that changes in domestic oil prices do not Granger...

We use a matching procedure to construct samples of private residential sales in Singapore for January 1995 to May 2010. Though the matching approach is similar to a repeat sales estimator in pairing each sale with the sale of a comparable property, sample sizes are much larger because the...

This paper examines the relationship between the ‘exclusion’ type core inflation measures and the stability price index. Empirical results for Malaysia and Pakistan suggests that, if targeting core inflation index is to stabilize output, weights of the export-oriented sectors (energy for...

According to economic theory, real income, i.e., nominal income adjusted for purchasing power, should be the relevant source of life satisfaction. Previous work, however, has only studied the impact of inflation adjusted nominal income and not taken into account regional differences in...

This paper reviews some methodological and practical problems encountered in the construction of historical price indices. The underlying data sets in such studies are often characterized by heterogenous and incomplete price series. It is shown that by using the repeat sales method for...

The unit value index (UVI) as compiled in Germany for exports and imports is compared with two other indices, viz. an index of Drobisch which unfortunately is likewise known as "unit value index" and the "normal" Laspeyres price index (PI) of exports and imports. The UVI may be viewed as a...

Following Melitz (2003)'s seminal paper, several theoretical and empirical studies have shown that only the subset of most productive firms export. While other studies provide evidence on a positive effect of an increase in imported inputs on firms' productivity, the link between imported...

In some countries a Paasche price index based on unit values is compiled as a proxy for a true Paasche (or Laspeyres) price index on the basis of prices. This is for example the case in German foreign trade statistics. Unit values are average prices referring to a 'commodity number' (CN), that...