IDEAS home Printed from https://ideas.repec.org/p/arz/wpaper/eres2024-174.html
   My bibliography  Save this paper

Managing the bias variance trade-off in regional house price indices

Author

Listed:
  • Fabrice Kreuzbichler
  • Wolfgang Brunauer
  • Karin Wagner
  • Ronald Weberndorfer

Abstract

The Austrian Central Bank (OeNB) has been publishing the Austrian residential property price index for many years now. Several years ago, there has been a change in the underlying methodology, from the “dummy method” to a “double imputation method”. While with the former approach, the regionalization of the index had been bound to the model regions (as it is derived from an evaluation of model parameters), the new methodology allows for arbitrary granularization. Now we explore methods for regionalization, and their impact on the bias-variance trade-off. Furthermore, we investigate the possible impact on the construction of early warning systems for the Austrian housing markets, which can in turn be used for systemic risk analyses.

Suggested Citation

  • Fabrice Kreuzbichler & Wolfgang Brunauer & Karin Wagner & Ronald Weberndorfer, 2024. "Managing the bias variance trade-off in regional house price indices," ERES eres2024-174, European Real Estate Society (ERES).
    • Handle: RePEc:arz:wpaper:eres2024-174
    as

    Download full text from publisher

    File URL: https://eres.architexturez.net/doc/oai-eres-id-eres2024-174
    Download Restriction: no
    ---><---

    More about this item

    Keywords

    Bias variance trade-off; Double Imputation; Price Index; regionalization;
    All these keywords.

    JEL classification:

    • R3 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:arz:wpaper:eres2024-174. See general information about how to correct material in RePEc.

    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.

    We have no bibliographic references for this item. You can help adding them by using 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 RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Architexturez Imprints (email available below). General contact details of provider: https://edirc.repec.org/data/eressea.html .

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

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.