Commercial Property Price Indexes : Problems of Sparse Data, Spatial Spillovers, and Weighting /
Transaction-price residential (house) and commercial property price indexes (RPPIs and CPPIs) have inherent problems of sparse data on heterogeneous properties, more so CPPIs. In an attempt to control for heterogeneity, (repeat-sales and hedonic) panel data regression frameworks are typically used f...
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| Format: | Book |
| Language: | English |
| Published: |
Washington, D.C. :
International Monetary Fund,
2014
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| Series: | IMF Working Papers; Working Paper ;
No. 2014/072 |
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Table of Contents:
- Cover; Abstract; Contents; I. Introduction; II. Appraisal and transaction-based indexes; A. Appraisal-based indexes; B. Transaction-based indexes; III. Methodology; A. Sparse data, the use of counts information, and CPPIs; B. Modeling spatial dependency; C. Relaxing the restrictions of constant ρ and W[sub(n)]; D. Weighted averages of commercial property priceinflation; E. Relaxing the restriction of fixed weights; IV. Empirical Results; A. Data; B. Sparse data; C. SAR fixed effects panel models with fixed and varying ρ = ρ[sup(τ)] and W[sub(n)] = W[sup(τ)][sub(n)]
- D. SAR fixed effects panel models with fixed and chain weightsE. Higher-level weights; V. Conclusions; References; Annex 1, the Aggregation of Moody's/RCA CPPIs and use of Counts Data