IDEAS home Printed from https://ideas.repec.org/
MyIDEAS: Login to save this article

El precio de la vivienda y la inflación en España

  • Bellod Redondo, José Francisco

    (Universidad Politécnica de Cartagena, España)

Housing prices in Spain have increased heavily since 1999, increasing household financial effort needed to buy a house. Inflation data, obtained from HIPC (Harmonized Index of Consumer Prices) has reached very low values in this period. HIPC design doesn’t include housing prices and Housing prices and then a very problematic question arises: Are we measuring inflation correctly? In this paper we offer a methodological strategy to correct inflation measurement bias due to HIPC housing treatment.// El precio de la vivienda en España ha experimentado un incremento muy intenso desde 1999 aumentando el esfuerzo financiero que los hogares han de realizar para su adquisición. Por lo contrario, la inflación, medida a partir del índice de precios al consumo armonizado (IPCA), ha tenido valores históricamente reducidos en ese mismo periodo. Dado que el precio de la vivienda no forma parte de la construcción del IPCA surge la duda de si la inflación se está midiendo correctamente. En este artículo elaboramos una estrategia metodológica para corregir el sesgo en la medición de la inflación debido al actual tratamiento de la vivienda.

To our knowledge, this item is not available for download. To find whether it is available, there are three options:
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.

Article provided by Fondo de Cultura Económica in its journal El Trimestre Económico.

Volume (Year): LXXVI (2) (2009)
Issue (Month): 302 (abril-junio)
Pages: 379-405

as
in new window

Handle: RePEc:elt:journl:v:76:y:2009:i:302:p:379-405
Contact details of provider: Web page: http://www.fondodeculturaeconomica.com/

Order Information: Postal: Order print issues directly in our web page or with Guadalupe Galicia at Fondo de Cultura Económica, El Trimestre Económico, Carretera Picacho Ajusco 227, 6° piso,Col. Bosques del Pedregal, CP 14738, Tlalpan, Ciudad de México
Web: http://www.eltrimestreeconomico.com.mx Email:


References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

as in new window
  1. Poterba, James M, 1992. "Taxation and Housing: Old Questions, New Answers," American Economic Review, American Economic Association, vol. 82(2), pages 237-42, May.
  2. Arrondel, Luc & Lefebvre, Bruno, 2001. "Consumption and Investment Motives in Housing Wealth Accumulation: A French Study," Journal of Urban Economics, Elsevier, vol. 50(1), pages 112-137, July.
  3. repec:hhs:bofrdp:2006_029 is not listed on IDEAS
  4. María Consuelo Colom & María Cruz Molés & Rosario Martínez, 2000. "Un Análisis De Las Decisiones De Formación De Hogar, Tenencia Y Demanda De Servicios De Vivienda De Los Jóvenes Españoles," Working Papers. Serie EC 2000-02, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
  5. Quigley, John M., 2006. "Urban Economics," Berkeley Program on Housing and Urban Policy, Working Paper Series qt0jr0p2tk, Berkeley Program on Housing and Urban Policy.
  6. Heckman, James, 2013. "Sample selection bias as a specification error," Applied Econometrics, Publishing House "SINERGIA PRESS", vol. 31(3), pages 129-137.
  7. James M. Poterba, 1983. "Tax Subsidies to Owner-occupied Housing: An Asset Market Approach," Working papers 339, Massachusetts Institute of Technology (MIT), Department of Economics.
  8. Karl E. Case & Robert J. Shiller, 2003. "Is There a Bubble in the Housing Market?," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 34(2), pages 299-362.
  9. David E. Lebow & Jeremy B. Rudd, 2003. "Measurement Error in the Consumer Price Index: Where Do We Stand?," Journal of Economic Literature, American Economic Association, vol. 41(1), pages 159-201, March.
  10. International Monetary Fund, 2005. "United Kingdom; Selected Issues," IMF Staff Country Reports 05/81, International Monetary Fund.
  11. Diewert, Erwin, 2002. "Harmonized indexes of consumer prices: their conceptual foundations," Working Paper Series 0130, European Central Bank.
  12. Ruiz-Castillo, Javier & Arévalo, Raquel, 2004. "The rental equivalence approach to nonrental housing in the consumer price index. evidence from Spain," UC3M Working papers. Economics we041704, Universidad Carlos III de Madrid. Departamento de Economía.
  13. Henderson, J Vernon & Ionnides, Yannis M, 1986. "Tenure Choice and the Demand for Housing," Economica, London School of Economics and Political Science, vol. 53(210), pages 231-46, May.
  14. Manuel Jaen & Agustin Molina, 1994. "Un análisis empírico de la tenencia y demanda de vivienda en Andalucía," Investigaciones Economicas, Fundación SEPI, vol. 18(1), pages 143-164, January.
  15. Jorge Martínez Pagés & Luis Ángel Maza, 2003. "Analysis of house prices in Spain," Working Papers 0307, Banco de España;Working Papers Homepage.
  16. Jonathan McCarthy & Richard Peach, 2004. "Are home prices the next "bubble"?," Economic Policy Review, Federal Reserve Bank of New York, issue Dec, pages 1-17.
  17. Olympia Bover, 1993. "Un modelo empírico de la evolución de los precios de la vivienda en España," Investigaciones Economicas, Fundación SEPI, vol. 17(1), pages 65-86, January.
  18. Diewert, W E, 1974. "Intertemporal Consumer Theory and the Demand for Durables," Econometrica, Econometric Society, vol. 42(3), pages 497-516, May.
  19. Charles Himmelberg & Christopher Mayer & Todd Sinai, 2005. "Assessing High House Prices: Bubbles, Fundamentals and Misperceptions," Journal of Economic Perspectives, American Economic Association, vol. 19(4), pages 67-92, Fall.
  20. María Consuelo Colom & María Cruz Molés, 1999. "- Un Análisis Sobre El Gasto En Servicios De Vivienda En España," Working Papers. Serie EC 1999-06, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
  21. Klevmarken, N. Anders, 2004. "Towards an Applicable True Cost-of-Living Index that Incorporates Housing," Working Paper Series 2004:18, Uppsala University, Department of Economics.
  22. Goodhart, Charles, 2001. "What Weight Should Be Given to Asset Prices in the Measurement of Inflation?," Economic Journal, Royal Economic Society, vol. 111(472), pages F335-56, June.
  23. Boris Cournède, 2005. "House Prices and Inflation in the Euro Area," OECD Economics Department Working Papers 450, OECD Publishing.
  24. International Monetary Fund, 2003. "United Kingdom; Selected Issues," IMF Staff Country Reports 03/47, International Monetary Fund.
  25. Henderson, J Vernon & Ioannides, Yannis M, 1983. "A Model of Housing Tenure Choice," American Economic Review, American Economic Association, vol. 73(1), pages 98-113, March.
  26. Christensen, Laurits R & Jorgenson, Dale W, 1969. "The Measurement of U.S. Real Capital Input, 1929-1967," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 15(4), pages 293-320, December.
  27. Goodhart, Charles & Hofmann, Boris, 2000. "Financial Variables and the Conduct of Monetary Policy," Working Paper Series 112, Sveriges Riksbank (Central Bank of Sweden).
Full references (including those not matched with items on IDEAS)

This item is featured on the following reading lists or Wikipedia pages:

  1. Inflación in Wikipedia Spanish ne '')

When requesting a correction, please mention this item's handle: RePEc:elt:journl:v:76:y:2009:i:302:p:379-405. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Rosa María González Mejía)

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.

This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.