The Difference Between Hedonic Imputation Indexes and Time Dummy Hedonic Indexes
نویسندگان
چکیده
منابع مشابه
Studies in Hedonic Resale Housing Price Indexes∗
Hedonic analysis is gaining acceptance as a tool for quality adjustment in goods and services in official statistics and academic research. Computers and houses are by far the two most popular products for which much of the hedonic research been concentrated on. Few comparative studies have, however, looked at the sensitivity of the price indexes that are obtained when different regression appr...
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This paper proposes arithmetic and geometric Paasche quality-adjusted price indexes that combine micro data from the base period with macro data on the averages of asset prices and characteristics at the index period. The suggested index has two types of advantages relative to traditional Paasche indexes: (i) simplification and cost reduction of data acquisition and manipulation; and (ii) poten...
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Hedonic methods are a prominent approach in the construction of quality-adjusted price indexes. This paper shows that the process of computing such indexes is substantially simplified if arithmetic (geometric) price indexes are computed based on exponential (log-linear) hedonic functions estimated by the Poisson pseudo maximum likelihood (ordinary least squares) method. A Monte Carlo simulation...
متن کاملIncorporating Geospatial Data into House Price Indexes: A Hedonic Imputation Approach with Splines
We estimate a hedonic model of the housing market that includes a spline surface defined on geospatial data (i.e., the longitudes and latitudes of individual dwellings). House price indexes are then obtained by imputing prices for individual dwellings from the hedonic model and then inserting them into the Fisher price index formula. Using data for Sydney, Australia we compare the performance o...
متن کاملHedonic functions , hedonic methods , estimation methods and Dutot and Jevons house price indexes : are there any links ? ∗
Hedonic methods are a prominent approach in the construction of house price indexes. This paper investigates in a comprehensive way whether or not there exists any kind of link between the type of price index to be computed (Dutot or Jevons) and the form of hedonic functions, hedonic methods and estimation methods, with a link being defined as a specific combination of price indexes, functions ...
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ژورنال
عنوان ژورنال: Journal of Business & Economic Statistics
سال: 2007
ISSN: 0735-0015,1537-2707
DOI: 10.1198/073500106000000486