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Measuring Irish housing quality

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Author Info

  • Edward Shinnick

Abstract

Reviews the development of Irish housing policy from the eighteenth century to the present. Emphasizes the importance of measuring quality in housing, where housing may be described by a vector of measured characteristics. Undertakes a detailed price determination of these various characteristics using a hedonic model. Explains observed house prices in terms of the various housing characteristics using a hedonic model, from which a set of implicit or “hedonic” prices emerges. Reviews the theoretical basis of such an approach and develops a model specifically for aggregated data, as other studies in this area used disaggregated models. Obtains quantitative estimates of the qualitative and quantitative characteristics of the housing bundle before and after a series of model transformations. The results indicate the premium associated with certain housing characteristics. They emphasize, in particular, the importance of floor area and location in determining new Irish estate house prices.

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Bibliographic Info

Article provided by Emerald Group Publishing in its journal Journal of Economic Studies.

Volume (Year): 24 (1997)
Issue (Month): 1/2 (January)
Pages: 95-119

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Handle: RePEc:eme:jespps:v:24:y:1997:i:1/2:p:95-119

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Related research

Keywords: Housing; Ireland; Prices; Quality;

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Cited by:
  1. Michael T. Carroll & James L. Anderson & Josué Mart�nez-Garmendia, 2001. "Pricing U.S. North Atlantic bluefin tuna and implications for management," Agribusiness, John Wiley & Sons, Ltd., vol. 17(2), pages 243-254.
  2. Raquel Arévalo Tomé & José María Chamorro Rivas, . "Geographic Heterogeneity in Housing. Evidence from Spain," Studies on the Spanish Economy 203, FEDEA.

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