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Residential Property Price Indexes for Japan: An Outline of the Japanese Official RPPI

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  • Diewert, W. Erwin
  • Nishimura , Kiyohiko
  • Shimizu, Chihiro
  • Watanabe, Tsutomu

Abstract

Fluctuations in housing prices have substantial economic impacts. Thus, it is essential to develop housing price indexes that can adequately capture housing market trends. However, construction of such indexes is very difficult due to the fact that residential properties are heterogeneous and do not remain at constant quality over time due to renovations and depreciation of the structure. In order to improve the quality of housing price statistics Eurostat published the Residential Property Price Indices Handbook in 2012. The present paper discusses alternative methods for obtaining constant quality housing price statistics and alternative data sources in the Japanese context.

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Bibliographic Info

Paper provided by Vancouver School of Economics in its series Economics working papers with number erwin_diewert-2014-17.

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Length: 56 pages
Date of creation: 27 Mar 2014
Date of revision: 27 Mar 2014
Handle: RePEc:ubc:bricol:erwin_diewert-2014-17

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Web page: http://www.economics.ubc.ca/

Related research

Keywords: House price indexes; hedonic price indexes; repeat sales price indexes; aggregation bias; housing depreciation; land and structure components; flexibl;

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