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Handbook on Residential Property Prices (RPPIs)

Handbook on Residential Property Prices (RPPIs) »

Series: Manuals & Guides

Author(s): Statistical Office of the European Communities;International Labour Office;International Monetary Fund;Organization for Economic Co-operation and Development;United Nations;World Bank

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 21 May 2013

DOI: http://dx.doi.org/10.5089/9789279259845.069

ISBN: 9789279259845

Keywords: real estate, mortgage, regression model, stratification, real estate price

For most citizens, buying a residential property (dwelling) is the most important transaction during their lifetime. Residential properties represent the most significant component of households’ expenses an...

We Just Averaged over Two Trillion Cross-Country Growth Regressions

We Just Averaged over Two Trillion Cross-Country Growth Regressions »

Source: We Just Averaged over Two Trillion Cross-Country Growth Regressions

Volume/Issue: 1999/101

Series: IMF Working Papers

Author(s): Mark Steel , and Eduardo Ley

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 1999

ISBN: 9781451852493

Keywords: Bayesian model averaging, choice of regressors, economic growth, Markov chain Monte Carlo, prediction, probabilities, probability, linear regression, growth regression

We investigate the issue of model uncertainty in cross-country growth regressions using Bayesian model averaging (BMA). We find that the posterior probability is distributed among many models, suggesting the superi...

Macrofinance Model of the Czech Economy

Macrofinance Model of the Czech Economy »

Source: Macrofinance Model of the Czech Economy : Asset Allocation Perspective

Volume/Issue: 2012/78

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2012

ISBN: 9781475502305

Keywords: yield curve modeling, macrofinance modeling, vector auto-regression model, bond, bond yield, government bond, bond yields, correlation, Econometric Modeling: General,

The paper developes a VAR macrofinance model of the Czech economy. It shows that yield misalignments from the yields implied by the macrofinance model partially determine subsequent yield changes over three to nine...

1. Introduction

1. Introduction »

Source: Handbook on Residential Property Prices (RPPIs)

Series: Manuals & Guides

Author(s): Statistical Office of the European Communities;International Labour Office;International Monetary Fund;Organization for Economic Co-operation and Development;United Nations;World Bank

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 21 May 2013

ISBN: 9789279259845

Keywords: real estate, mortgage, regression model, stratification, real estate price

1.1 Residential property is both a source of wealth and, insofar as property owners live in or on their property, an important determining factor in their cost of li...

2. Uses of Residential Property Price Indices

2. Uses of Residential Property Price Indices »

Source: Handbook on Residential Property Prices (RPPIs)

Series: Manuals & Guides

Author(s): Statistical Office of the European Communities;International Labour Office;International Monetary Fund;Organization for Economic Co-operation and Development;United Nations;World Bank

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 21 May 2013

ISBN: 9789279259845

Keywords: real estate, mortgage, regression model, stratification, real estate price

Introduction 2.1 There are many areas of society where individuals or organisations use residential property price indices (RPPIs) directly or indirectly either to in...

3. Elements for a Conceptual Framework

3. Elements for a Conceptual Framework »

Source: Handbook on Residential Property Prices (RPPIs)

Series: Manuals & Guides

Author(s): Statistical Office of the European Communities;International Labour Office;International Monetary Fund;Organization for Economic Co-operation and Development;United Nations;World Bank

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 21 May 2013

ISBN: 9789279259845

Keywords: real estate, mortgage, regression model, stratification, real estate price

Introduction 3.1 What makes the construction of a residential property price index (RPPI) so challenging? This question was addressed in Chapter 1 of this Handbook bu...

4. Stratification or Mix Adjustment Methods

4. Stratification or Mix Adjustment Methods »

Source: Handbook on Residential Property Prices (RPPIs)

Series: Manuals & Guides

Author(s): Statistical Office of the European Communities;International Labour Office;International Monetary Fund;Organization for Economic Co-operation and Development;United Nations;World Bank

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 21 May 2013

ISBN: 9789279259845

Keywords: real estate, mortgage, regression model, stratification, real estate price

Simple Mean or Median Indices 4.1 The simplest measures of house price change are based on some measure of central tendency from the distribution of house prices sold...

5. Hedonic Regression Methods

5. Hedonic Regression Methods »

Source: Handbook on Residential Property Prices (RPPIs)

Series: Manuals & Guides

Author(s): Statistical Office of the European Communities;International Labour Office;International Monetary Fund;Organization for Economic Co-operation and Development;United Nations;World Bank

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 21 May 2013

ISBN: 9789279259845

Keywords: real estate, mortgage, regression model, stratification, real estate price

Hedonic Modeling and Estimation 5.1 The hedonic regression method recognizes that heterogeneous goods can be described by their attributes or characteristics. That is...

6. Repeat Sales Methods

6. Repeat Sales Methods »

Source: Handbook on Residential Property Prices (RPPIs)

Series: Manuals & Guides

Author(s): Statistical Office of the European Communities;International Labour Office;International Monetary Fund;Organization for Economic Co-operation and Development;United Nations;World Bank

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 21 May 2013

ISBN: 9789279259845

Keywords: real estate, mortgage, regression model, stratification, real estate price

The Basic Repeat Sales Model 6.1 The repeat sales method was initially proposed by Bailey, Muth and Nourse (1963). They saw their procedure as a generalization of the...

7. Appraisal-Based Methods

7. Appraisal-Based Methods »

Source: Handbook on Residential Property Prices (RPPIs)

Series: Manuals & Guides

Author(s): Statistical Office of the European Communities;International Labour Office;International Monetary Fund;Organization for Economic Co-operation and Development;United Nations;World Bank

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 21 May 2013

ISBN: 9789279259845

Keywords: real estate, mortgage, regression model, stratification, real estate price

Introduction 7.1 As was mentioned in previous chapters, the matched model methodology to construct price indices, where prices of identical items are compared over ti...