Chapter

Index

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
Published Date:
May 2013
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accuracy 9.35

  • - trade-off between frequency and accuracy 9.38

  • (net) acquisitions approach (g) 3.15,9.28

    administrative data 9.1

aggregate (g)

aggregation (g)

  • - first-stage aggregation 4.13-15

  • - examples of aggregation 11.17-11.25

  • - sales versus stocks of housing 8.13-17

  • - second-stage aggregation 4.16-18

anticipated inflation rates (for structures and land) 3.55,3.59

asking price (g),9.10-13

assessed value or appraisal (g)7.2, 7.17-20

assessment-based methods 3.23, 7.1-6

axiomatic (test) approach (g)

base period (g)

balance sheets 3.8

bias (g)

  • - omitted variables bias 5.6

  • - sample selection bias 4.3,6.15-18

  • - unit value bias 4.15

builder’s model 8.3-4

buying and selling a property

  • - process of buying and selling 9.3-9.6,10.59

  • - time line (Japan) 10.56-57

buy-to-let market 6.16

capitalization ratio 3.70-71

case studies

  • - Canada 10.27-40

  • - Colombia 10.72-77

  • - Germany 10.41-49

  • - India 10.65-71

  • - Japan 10.50-58

  • - South Africa 10.78-93

  • - United Kingdom 10.59-64

chain index (g) 4.19-20

characteristics (g)3.18,4-29, 5.1

  • - adding structures characteristics 8.10-12

  • - land (or plot) size 4.34

  • - structure size 4.34

characteristics prices hedonic approach (g),5.20-24

central tendency measures 4.1,11.3-10

component (g)

consistency in aggregation (g)

consistency of monthly with quarterly estimates 3.31-33

construction cost price index 8.37

consumer price index (CPI) (g)

comparability (across countries) 9.43-44,10.13

cost of production approach 8.2-4

coverage (g),9.6, 9.8, 9.34-35

current period, or comparison period (g)

data cleaning (g)5.9, 6.11-12, 7.22, 7.33

data sources (in different countries) 10.12-13

decomposition into land and structures components 8.1-57

deflating (g)

depreciation (g)

  • - depreciation rate 3.48,8.5

  • - net depreciation 4.9,8.5-8.9

  • - one hoss shay (or light bulb) depreciation 3.51

  • - straight line (or geometric) depreciation 3.51,5.49-52

developing countries 9.48-54

discounting 3.43

domain (g) see scope

drift (g)

durable consumption good (g)3.40

economic approach (g)

editing (g) see data cleaning

elementary aggregate (g)

ex ante user cost 3.47

existing dwellings (g)

expert opinion information 9.22

family of residential property price indices 3.29

financial opportunity cost approach 3.45

Fisher (ideal) price index (g)4.16-18,11.19

fixed weight indices (g)

fixed base indices 4.18

frequency of residential property price indices 3.28-30,

9.38-39

geometric Laspeyres index (g)

goods (g)

gross capital formation 3.13-14

hedonic regression (g)3.22,12.22-28

  • - examples of hedonic regression methods 11.26-44

  • - use of monotonicity restrictions 8.31-35

  • - use of exogenous information on structures 8.36-40,

8.53-56

hedonic imputation approach (g)5.25-34, 5.65-69,11.40-44

  • - arithmetic imputation indices 5.26-29

  • - double imputation 5.27-29

  • - double imputation Laspeyres index 5.27,5.66,

  • 11.43

  • - double imputation Paasche index 5.28, 5.67

  • - double imputation Fisher index 5.29, 5.68

  • - geometric imputation indices 5.30-34

  • - hedonic modeling 5.2-5

parametric linear or logarithmic-linear) model 5.2,11.28-31

  • - single imputation 5.27

  • - hedonic quality adjustment 5.32-33

  • - in different countries 10.18

  • - quality adjustment for structures 5.49-52

  • - households (g)

  • - housing stock (g)

  • - approximation of housing stock value 8.51-52

  • hybrid models (g) see repeat sales method

identity test (g)

imputed price (g)

index reference period (g)

inefficiency (of repeat sales approach) 6.19-20

informal housing market (g),9.48-54,10.85-94

Jevons price index (g)

Laspeyres price index (g)4.16-18

land

  • - building land price index (Germany) 10.48-49

  • - decomposition into land and structures components

  • 8.1-57

  • - price of land 5.3

  • linear splines 8.25-30

  • linking (g)

Lowe price index (g),8.51-52

lower-level index (g) see(first-stage) aggregation

life-cycle theories 6.16

matched models approach (g)

market value (g)

mean index (g)

median index (g)11.17

meta-data 10.8,10.22-26

mix adjustment (g) see stratification

money outlays or payments approach (g),9.30-31

monotonicity restrictions 8.31-35

mortgage companies 9.14-18

moving average 4.45

Mudgett-Stone framework 4.42-45

multicollinearity 5.8, 8.3, 8.24

net acquisitions approach (g),9.28

offer price (g),9.14-15

opportunity cost approach 3.69-71

outlier (g) see data cleaning

owner-occupied housing (g)

Paasche price index (g)4.16-18

parameter stability 11.37

payments approach (g)3.15

pooling (cross section) data 5.11-12

price data at different stages 9.3-5

price reference period (g)

price relative (g)

products (g)

pure price change (g)

purpose-designed statistics 9.7-8

  • - fitness-for-purpose of data sources 9.23-26

  • - quality change (g)

  • - quality adjusted structures 8.10-11

  • - quality adjusted price index for structures 8.23

real estate agents 9.12-13

regression techniques

  • - ordinary least squares regression 5.5

  • - nonlinar regression 8.6

  • - weighted least squares regression 5.15

  • - weighted least squares repeat sales regression 6.13,

  • 11.52-56

reproducibility 6.12

rental equivalence approach (g)3.15, 3.61

rental cost (approximation) 3.49

rent to value (price) ratio see capitalization ratio

repeat sales method (g)3.21, 6.1-32,11.45-56,12.29-32

  • - arithmetic repeat sales method 6.9

  • - Gaussian random walk 6.4

  • - holding period 6.7

  • - hybrid models 6.26-27

  • - use of assessment information 6.20

  • - use of information on maintenance and renovation

  • expenditures 6.23

  • - repeat sales equation 6.4

  • - revisions 6.21

  • - weighted least squares technique 11.52-56 representative property (g)

residential property (g)

residential real estate services industry output 3.9-12

revisions 5.17, 9.40-42

revision policy 3.34-35

reweighting (g)

rolling window approach (g)4.42-45, 8.43-48

sample (g)

sample probability 4.34-35

sample selection bias (g) see bias

sampling frame (g)

scope (g),12.7-9

seasonal goods (g)

seasonal adjustment 3.36-37,12.38-40

seasonality (treatment in a esidential property price index)

4.42-46

selling (or transaction) price (g)

spatial dependence 5.7

specification (g)

SPAR method (g)7.4-35,12.33-37

  • - arithmetic SPAR index 7.10-12

  • - descriptive regression model 7.25

  • - estimator of stock-beased index 7.13

  • - generalized regression framework 7.28

  • - model assumptions 7.26-27

  • - Paasche-type SPAR index 7.8

  • - quality change bias 7.15-16

  • - sale price appraisal ratio (or relative) 7.7

  • splines see linear splines

standardized property 5.20

starting problem (of index series) 7.35

stock-based index 4.21-24, 5.23-24, 8.15-17

  • - using hedonic imputation 8.50-52

  • - stratification method (g)3.20,4.4-4.12,12.16-21

  • - in different countries 10.17,11.11-16

  • - market segmentation 4.11-12, 5.37

  • - stratified hedonic indices 5.35-40

  • - structures

  • - price of structures 5.3

  • - superlative index (g)11.19

  • symmetric index (g)

system of national accounts (SNA) (g)

  • - framework for residential property price indices 3.6-

  • 14,12.4

systematic error see bias

time dummy variable (hedonic) approach (g)5.5, 5.11-18

  • - adjacent-period technique 11.38-39

  • - time dummy index 5.11

  • - linear time dummy model 5.57-60

  • - linear time dummy model with quality adjusted

  • structures 5.61-63

  • - log-linear time dummy model 5.45-48,11.32-39

  • - log-log time dummy model 5.53-55

  • timeliness 9.8

Törnqvist-Theil index 11.19

traditional dwellings (in developing countries), 9.48-54

(final) transaction price

  • - from mortgage companies 9.18

  • - from property registers and tax offices 9.19-20 transaction costs 3.14

transaction noise 6.18

turning point 4.2

unit value or average value (g)3.32,4.15

unit value bias see bias

user costs

  • - durable goods in general 3.39-52

  • - for owner occupied housing 3.53-68

  • - user cost approach (g)3.15,3.40-52

  • - simplified user cost approach 3.65

  • - user requirements 9.25

  • - uses of residential property price indices

  • - component of wealth 2.14-15

  • - deflator in national accounts 2.21-23

  • - financial soundness indicators 2.16-20

  • - internation and inter-area comparisons 2.28-30

  • - macro-economic indicator 2.8-11

  • - monetary policy and inflation targeting 2.12-13

  • - owner occupied housing in CPI 2.27

  • uses approach (g)

valuation price

  • - from mortgage companies 9.16-17

  • - from tax offices 9.21 value (g)

weights (g)

  • - data sources for weights 9.45-47

  • - weight reference period (g)

  • - non-formal (informal and traditional) housing 10.89-90

  • - sales weights 4.6

  • - stock weights 4.6

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