Commercial property price indexes : problems of sparse data, spatial spillovers, and weighting /

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Bibliographic Details
Author / Creator:	Silver, M. S., author.
Imprint:	[Washington, D.C.] : International Monetary Fund, ©2014.
Description:	1 online resource (31 pages) : color illustrations.
Language:	English
Series:	IMF working paper ; WP/14/72 IMF working paper ; WP/14/72.
Subject:	Commercial real estate -- Prices -- Econometric models. Housing -- Prices -- Econometric models. Price indexes. Regression analysis -- Mathematical models. Housing -- Prices -- Econometric models. Price indexes. Regression analysis -- Mathematical models.
Format:	E-Resource Book
URL for this record:	http://pi.lib.uchicago.edu/1001/cat/bib/13511080

Hidden Bibliographic Details
Other authors / contributors:	Graf, Brian (Brian Edward), 1965- author. International Monetary Fund. Statistics Department, issuing body.
Notes:	"Statistics Department"--Page 2 of pdf. "April 2014"--Page 2 of pdf. Includes bibliographical references. Online resource; title from pdf title page (IMF.org Web site, viewed May 20, 2014).
Summary:	"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 for estimating overall price change. We address the problem of sparse data, demonstrate the need to include spatial price spillovers to remove bias, and propose an innovative approach to effectively weight regional CPPIs along with improvements to higher-level weighting systems. The study uses spatial panel regressions on granular CPPIs for the United States (US)"--Abstract.

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