Measurement of Rent Inflation

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Publisher : DIANE Publishing
ISBN 13 : 1437929311
Total Pages : 41 pages
Book Rating : 4.4/5 (379 download)

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Book Synopsis Measurement of Rent Inflation by : Jonathan McCarthy

Download or read book Measurement of Rent Inflation written by Jonathan McCarthy and published by DIANE Publishing. This book was released on 2011 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is a print on demand edition of a hard to find publication. Rent, paid either to a landlord or to oneself as an owner-occupant, has a large weight in the CPI and in the personal consumption expenditures deflator. The authors describe how the Bureau of Labor Stat. (BLS) estimates tenant rent and owners¿ equivalent rent. They then estimate alternative inflation rates for tenant rent and owners¿ equivalent rent based on Amer. Housing Survey data, following BLS methodology as closely as possible. The authors¿ alternative tenant rent inflation series is generally consistent with the corresponding BLS series. However, their alternative owners¿ equivalent rent inflation series is consistently lower than the corresponding BLS series by an amount large enough to have a significant effect on the overall inflation rate.

Sticky Rents and the CPI for Owner-Occupied Housing

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Publisher :
ISBN 13 :
Total Pages : 106 pages
Book Rating : 4.:/5 (128 download)

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Book Synopsis Sticky Rents and the CPI for Owner-Occupied Housing by : Adam Ozimek

Download or read book Sticky Rents and the CPI for Owner-Occupied Housing written by Adam Ozimek and published by . This book was released on 2013 with total page 106 pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation examines the implications of sticky rents on the measurement of owner-occupied housing in the Consumer Price Index (CPI). I argue that marginal and not average rents are the most theoretically justified measurement of owners' equivalent rent (OER), and that the current measurement of rental inflation using average rents is methodologically incorrect. I then discuss the literature on sticky rents and tenure discounts and present a theoretical model showing the implications of sticky rents for aggregate measures of inflation. Then I use two new data sources to construct marginal rent measures to compare to average rent measures. The results show that marginal rents reflect market turning points sooner, and show a larger post- housing bubble decline in rents. In addition, marginal rents are shown to forecast overall inflation better than average rents. Finally, the implications of these results for policy are considered using the Taylor Rule for optimal monetary policy. The results present suggestive evidence that the impacts of switching to marginal rents may be large enough to significantly impact monetary policy and allow the Federal Reserve to be more responsive to both the boom and bust of housing bubbles.

The CPI for Rents

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Publisher :
ISBN 13 :
Total Pages : 44 pages
Book Rating : 4.:/5 (129 download)

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Book Synopsis The CPI for Rents by : Theodore M. Crone

Download or read book The CPI for Rents written by Theodore M. Crone and published by . This book was released on 2019 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: Until the end of 1977, the method used in the U.S. consumer price index (CPI) to measure rent inflation tended to omit rent increases when units had a change of tenants or were vacant. Since such units typically had more rapid increases in rents than average units, this response bias biased inflation estimates downward. Beginning in 1978, the Bureau of Labor Statistics (BLS) implemented a series of methodological changes that reduced response bias but substantial bias remained until 1985. We set up a model of response bias, parameterize it, and test it using a BLS microdata set for rents. We conclude that from 1940 to 1985 the CPI inflation rate for rent most likely was understated by 1.4 percentage points annually in U.S. data. We construct an improved rental inflation series for 1940 to 2000; at the starting point in 1940, the revised index is 54 percent as large as the official CPI.

Theory and Measurement of Rent

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Publisher :
ISBN 13 :
Total Pages : 216 pages
Book Rating : 4.4/5 (91 download)

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Book Synopsis Theory and Measurement of Rent by : New York University. Graduate School of Business Administration

Download or read book Theory and Measurement of Rent written by New York University. Graduate School of Business Administration and published by . This book was released on 1961 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Comparison of Measures of Core Inflation

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Publisher : DIANE Publishing
ISBN 13 : 1428988777
Total Pages : 520 pages
Book Rating : 4.4/5 (289 download)

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Book Synopsis Comparison of Measures of Core Inflation by : Robert Rich

Download or read book Comparison of Measures of Core Inflation written by Robert Rich and published by DIANE Publishing. This book was released on 2008-04 with total page 520 pages. Available in PDF, EPUB and Kindle. Book excerpt: The ability of central banks to differentiate between permanent & transitory price movements is critical for the conduct of monetary policy. The importance of gauging the persistence of price changes has led to the development of measures of underlying, or ¿core,¿ inflation that are designed to remove transitory price changes from aggregate inflation data. This article examines several proposed measures of core inflation -- the ex food & energy series, an ex energy series, a weighted median series, & an exponentially smoothed series -- to identify a ¿best¿ measure. Evaluates the measures¿ performance according to criteria such as ease of design, & accuracy in tracking trend inflation. Charts & tables.

Measuring Housing Service Inflation

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Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (469 download)

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Book Synopsis Measuring Housing Service Inflation by :

Download or read book Measuring Housing Service Inflation written by and published by . This book was released on with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The Federal Reserve Bank of Philadelphia presents the full text of the February 14, 2000 working paper entitled "Measuring Housing Service Inflation," written by Theodore M. Crone, Leonard I. Nakamura, and Richard Voith. The text is available in PDF format. This paper examines the accuracy of statistics of the Bureau of Labor for measuring rents for owner-occupied housing. The authors find an approach that calculates capitalization rates.

The Coming Rise in Residential Inflation

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Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (13 download)

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Book Synopsis The Coming Rise in Residential Inflation by : Marijn A. Bolhuis

Download or read book The Coming Rise in Residential Inflation written by Marijn A. Bolhuis and published by . This book was released on 2022 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: We study how the recent run-up in housing and rental prices affects the outlook for inflation in the United States. Housing held down overall inflation in 2021. Despite record growth in private market-based measures of home prices and rents, government measured residential services inflation was only four percent for the twelve months ending in January 2022. After explaining the mechanical cause for this divergence, we estimate that, if past relationships hold, the residential inflation components of the CPI and PCE are likely to move close to seven percent during 2022. These findings imply that housing will make a significant contribution to overall inflation in 2022, ranging from one percentage point for headline PCE to 2.6 percentage points for core CPI. We expect residential inflation to remain elevated in 2023.

Measuring and Apportioning Rents from Hydroelectric Power Developments

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Publisher : World Bank Publications
ISBN 13 : 9780821347980
Total Pages : 66 pages
Book Rating : 4.3/5 (479 download)

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Book Synopsis Measuring and Apportioning Rents from Hydroelectric Power Developments by : Mitchell P. Rothman

Download or read book Measuring and Apportioning Rents from Hydroelectric Power Developments written by Mitchell P. Rothman and published by World Bank Publications. This book was released on 2000-01-01 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt: Hydro resources are provided by nature. The exploitation of such resources can generate significant economic rent to the owners. In the past, governments have usually claimed ownership of hydroelectric resources and passed on the rents to their state-owned utilities, which have used them to expand their systems or provide lower tariffs to their consumers. With the restructuring of the electric power sector in many countries, a more explicit consideration of hydroelectric rents is required. Moreover, hydropower resources are often owned by more than one party, or at least require cooperation between parties to develop them. In this context, the measurement and apportionment of hydropower rents between cooperating parties becomes important. This paper addresses some of the issues involved in cooperative development of water resources, especially for hydroelectric generation. It promotes a better understanding of the sources of the benefits and attempts to derive an analytical basis for discussions between cooperating parties. This volume will be of interest to hydropower resource earning countries, hydropower developers, and Bank staff.

Measuring EU Inflation

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Publisher : Springer Nature
ISBN 13 : 3030688062
Total Pages : 271 pages
Book Rating : 4.0/5 (36 download)

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Book Synopsis Measuring EU Inflation by : John Astin

Download or read book Measuring EU Inflation written by John Astin and published by Springer Nature. This book was released on 2021-06-25 with total page 271 pages. Available in PDF, EPUB and Kindle. Book excerpt: The HICP is a consumer price index which was designed to provide measures of inflation in EU member states calculated using similar methods and thus comparable one with another. The HICP now tracks the inflation rates covering over 500 million Europeans, including the UK, and is also produced by other countries such as the USA. John Astin was the EU statistician in charge of the initial development of this important index and he has the best knowledge of how it was developed in the 1990s. This book is a history of the main development period of the HICP, up to the year 2002 when Astin left the European Commission. It will be of interest to a wide range of readers, not only in the UK but globally. Types of readers are likely to include: economists, economic statisticians, national statistics offices, universities, libraries, government finance/economic ministries, international organizations such as UN, ILO, OECD, EU, Eurostat, ECB, and central banks, as well as individuals who are interested in the construction of consumer price indices. This book begins by explaining the background to the HICP project, both from an economic and a political viewpoint, and describes the specific needs for harmonized price indices resulting from the Maastricht treaty of 1992. It analyses the process of establishing the necessary procedures for taking this urgent work forward and gives details of the technical issues involved, and the critical issue of drafting legal acts which would be necessary to ensure full compliance with the new rules. It includes analysis of products, price collection issues, quality adjustment, timing, and a host of other issues, and discusses the arguments which had to be resolved, as well as some human aspects of the process too. It also looks at the funding aspects, the recruitment of specialist consultants, the legal processes and the organization of meetings, both in Luxembourg and in other countries.

Rental Inflation and Stabilisation Policies

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Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (131 download)

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Book Synopsis Rental Inflation and Stabilisation Policies by : Cathal Coffey

Download or read book Rental Inflation and Stabilisation Policies written by Cathal Coffey and published by . This book was released on 2022 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This research considers the international evidence on the functioning and deployment of measures similar to the Irish "Rent Pressure Zone" (RPZ) framework introduced in late 2016. It also considers how these measures have worked in Ireland in the period from their inception until prior to the COVID-19 pandemic in early 2020 when the maximum allowable rent increase was 4 per cent.

Estimating Housing Rent Depreciation for Inflation Adjustments

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Publisher :
ISBN 13 :
Total Pages : 52 pages
Book Rating : 4.:/5 (129 download)

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Book Synopsis Estimating Housing Rent Depreciation for Inflation Adjustments by : Luis A. Lopez

Download or read book Estimating Housing Rent Depreciation for Inflation Adjustments written by Luis A. Lopez and published by . This book was released on 2020 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: The U.S. inflation measures, such as the Consumer Price Index, are adjusted for rent depreciation based on a 1988 estimate. This study estimates rent depreciation by using a novel rental-listing data set for the Las Vegas metropolitan area. The average annual depreciation rate is 0.2 percent for single-family housing and 0.9 percent for condominiums but also depends on building age and structure size. New and large houses annually depreciate 0.4 and 0.6 percentage points more than old and small houses, respectively. Our result suggests that local inflation rates are biased downward where new and large units have increased since 1988 but upward where the housing stock became older. Our estimates are robust to the inclusion of cohort and period effects.

Rents and Prices of Housing Across Areas of the U.S.

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Publisher :
ISBN 13 :
Total Pages : 82 pages
Book Rating : 4.3/5 ( download)

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Book Synopsis Rents and Prices of Housing Across Areas of the U.S. by : Todd E. Clark

Download or read book Rents and Prices of Housing Across Areas of the U.S. written by Todd E. Clark and published by . This book was released on 1993 with total page 82 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Inflation Indexes for Rental Housing

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Publisher :
ISBN 13 :
Total Pages : 76 pages
Book Rating : 4.3/5 (9 download)

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Book Synopsis Inflation Indexes for Rental Housing by : Ira S. Lowry

Download or read book Inflation Indexes for Rental Housing written by Ira S. Lowry and published by . This book was released on 1982 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt:

CPI Detailed Report

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Publisher :
ISBN 13 :
Total Pages : 612 pages
Book Rating : 4.3/5 (129 download)

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Book Synopsis CPI Detailed Report by :

Download or read book CPI Detailed Report written by and published by . This book was released on 1981 with total page 612 pages. Available in PDF, EPUB and Kindle. Book excerpt: Consumer price index, U.S. city average and selected areas.

Inflation and Deflation in East Asia

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Publisher : Springer Nature
ISBN 13 : 3031279492
Total Pages : 180 pages
Book Rating : 4.0/5 (312 download)

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Book Synopsis Inflation and Deflation in East Asia by : Frank Rövekamp

Download or read book Inflation and Deflation in East Asia written by Frank Rövekamp and published by Springer Nature. This book was released on 2023-05-13 with total page 180 pages. Available in PDF, EPUB and Kindle. Book excerpt: In light of the deflationary trends following the 2008/2009 financial crisis, as well as the return of inflation triggered by the COVID-19 pandemic and the war in Ukraine, this book offers insights into price stability issues in various East Asian countries. Leading scholars from the fields of economics and law as well as central bank practitioners present case studies on Japan, Korea, Singapore, and Taiwan. The contributors address topics such as quantitative monetary easing, the role of global and domestic shocks on inflation dynamics, and other monetary policy issues. In doing so, the book goes into detail about the individual forces and effects of deflation and inflation and compares the Asian experience with that of the Eurozone.

The Public General Acts ... and the Church Assembly Measures

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Publisher :
ISBN 13 :
Total Pages : 1342 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis The Public General Acts ... and the Church Assembly Measures by : Great Britain

Download or read book The Public General Acts ... and the Church Assembly Measures written by Great Britain and published by . This book was released on 1954 with total page 1342 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Theory and Measurement of Rent

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Publisher :
ISBN 13 : 9781258269937
Total Pages : 206 pages
Book Rating : 4.2/5 (699 download)

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Book Synopsis Theory and Measurement of Rent by : Joseph S Keiper

Download or read book Theory and Measurement of Rent written by Joseph S Keiper and published by . This book was released on 2012-04-01 with total page 206 pages. Available in PDF, EPUB and Kindle. Book excerpt: Additional Author Harvey Segal. Foreword By Raymond Moley.