Arithmetic repeat sales price estimators
نویسندگان
چکیده
منابع مشابه
Estimating house price growth with repeat sales data: What’s the aim of the game?
Since the seminal work of M. Bailey, R. Muth, and H. Nourse (1963, J. Amer. Statist. Assoc. 58, 933–942), numerous articles have been written about repeat sales and other methods for constructing house price indices. Our justification for producing yet another paper on this subject is to reemphasize fundamentals. We focus on the basic building blocks—asking questions about what the underlying t...
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Due to data and methodology constraints, there is a lack of good quality-controlled residential price indices publicly available in China. New home sales account for quite a large share of total home sales in Chinese cities (87% in 2010). As a result, the standard repeat sales approach cannot be employed, as a new housing units only appears once on the market. The hedonic method may be more sui...
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The rate at which physical capital depreciates is fundamental to investment in the economy. Nevertheless, although housing capital accounts for one-third of the total capital stock, the rate at which housing capital depreciates has only rarely been directly estimated, in part because prior studies do not control for maintenance. For that same reason, widely publicized measures of house price ap...
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A large body of experimental evidence suggests that people are loss averse. Inspired by this evidence, we develop a model in which a monopolist sells to loss averse, yet rational, consumers. We first introduce (portable) techniques for analyzing the demand of such consumers, and then investigate the monopolist's pricing strategy. In contrast to the standard monopoly model, we find that in relat...
متن کاملA new approach for constructing home price indices: The pseudo repeat sales model and its application in China
This paper develops a “pseudo repeat sale” estimation sample construction procedure (ps-RS) to construct more reliable and less biased quality-controlled price indices for newly-constructed homes. The method may be useful wherever new housing development is of sufficiently large scale and homogeneous. Such circumstances characterize many emerging market countries, and here we apply the techniqu...
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ژورنال
عنوان ژورنال: Journal of Housing Economics
سال: 1991
ISSN: 1051-1377
DOI: 10.1016/s1051-1377(05)80028-2