| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w7934 |
| 来源ID | Working Paper 7934 |
| Using Locational Equilibrium Models to Evaluate Housing Price Indexes | |
| Holger Sieg; V. Kerry Smith; Spencer Banzhaf; Randy Walsh | |
| 发表日期 | 2000-10-01 |
| 出版年 | 2000 |
| 语种 | 英语 |
| 摘要 | This paper analyses how the properties of locational equilibrium models can be used to evaluate approaches for constructing price indexes for heterogeneous houses. Housing markets play a key role in locational equilibrium models. Prices for houses determine that implicit costs that households bear when locating in a given community. We evaluate a variety of price indexes all relying on hedonic models for predicting interjurisdictional housing prices. The application uses a unique panel data set of housing transactions in Southern California. The rank predictions of different models are robust with respect to the hedonic model and the composite commodity definition used in aggregation. They do not depend significantly on the spatial or temporal definitions used to define the choice set of local housing markets. Finally, housing price estimates are strongly correlated with education and environmental amenities. |
| 主题 | Econometrics ; Estimation Methods ; Subnational Fiscal Issues |
| URL | https://www.nber.org/papers/w7934 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/565520 |
| 推荐引用方式 GB/T 7714 | Holger Sieg,V. Kerry Smith,Spencer Banzhaf,et al. Using Locational Equilibrium Models to Evaluate Housing Price Indexes. 2000. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w7934.pdf（488KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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