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A cross-country quarterly database of real house prices: a methodological note


  • Adrienne Mack
  • Enrique Martínez-García


We build from (mainly) publicly available national sources a database of (nominal and real) house prices—complemented with data on private disposable income (PDI)—for 19 advanced countries at a quarterly frequency, starting in the first quarter of 1975. We select a house price index for each country that is consistent with the U.S. FHFA quarterly nationwide house price index for existing single-family houses (formerly called OFHEO house price index), and extend the country series back to 1975 with available historical data whenever necessary. Each house price index is seasonallyadjusted over the entire sample period and then rebased to 2005 = 100.> ; The house price indexes are expressed in nominal terms, and also in real terms using the personal consumption expenditure (PCE) deflator of the corresponding country. PDIs are always quoted in per capita terms using working age population of the corresponding country and can be similarly expressed in real terms with the PCE deflator. We aggregate all 19 countries in our database, weighted by their purchasing power parity-adjusted GDP shares in 2005, to compute an average (nominal and real) house price series and an average (nominal and real) per capita PDI series.

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  • Adrienne Mack & Enrique Martínez-García, 2011. "A cross-country quarterly database of real house prices: a methodological note," Globalization and Monetary Policy Institute Working Paper 99, Federal Reserve Bank of Dallas.
  • Handle: RePEc:fip:feddgw:99

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    References listed on IDEAS

    1. Morris A. Davis, 2010. "housing and the business cycle," The New Palgrave Dictionary of Economics, Palgrave Macmillan.
    2. Nathalie Girouard & Mike Kennedy & Paul van den Noord & Christophe André, 2006. "Recent House Price Developments: The Role of Fundamentals," OECD Economics Department Working Papers 475, OECD Publishing.
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    Cited by:

    1. Dreger, Christian & Wolters, Jürgen, 2015. "Unconventional monetary policy and money demand," Journal of Macroeconomics, Elsevier, vol. 46(C), pages 40-54.
    2. Davis, J. Scott & Mack, Adrienne & Phoa, Wesley & Vandenabeele, Anne, 2016. "Credit booms, banking crises, and the current account," Journal of International Money and Finance, Elsevier, vol. 60(C), pages 360-377.
    3. repec:voj:journl:v:64:y:2017:i:1:p:1-16 is not listed on IDEAS
    4. Roland Döhrn & György Barabas & Heinz Gebhardt & Tobias Kitlinksi & Martin Micheli & Simeon Vosen & Lina Zwick, 2013. "Die wirtschaftliche Entwicklung im Inland: Binnennachfrage trägt Aufschwung," RWI Konjunkturbericht, Rheinisch-Westfälisches Institut für Wirtschaftsforschung, pages 64, 09.
    5. Helberg, Stig & Lindset, Snorre, 2016. "Risk protection from risky collateral: Evidence from the euro bond market," Journal of Banking & Finance, Elsevier, vol. 70(C), pages 193-213.
    6. repec:eee:jimfin:v:74:y:2017:i:c:p:88-114 is not listed on IDEAS
    7. repec:zbw:rwirep:0511 is not listed on IDEAS
    8. Gries, T. & Grundmann, R. & Palnau, I. & Redlin, M., 2015. "Does technological change drive inclusive industrialization? : A review of major concepts and findings," MERIT Working Papers 044, United Nations University - Maastricht Economic and Social Research Institute on Innovation and Technology (MERIT).
    9. repec:eee:jhouse:v:36:y:2017:i:c:p:25-43 is not listed on IDEAS
    10. Martin Micheli & Jan Rouwendal & Jasper Dekkers, 2014. "Border Effects in House Prices," Tinbergen Institute Discussion Papers 14-141/VIII, Tinbergen Institute.
    11. repec:eee:jhouse:v:38:y:2017:i:c:p:38-49 is not listed on IDEAS
    12. Martin Micheli & Jan Rouwendal & Jasper Dekkers, 2014. "Border Eff ects in House Prices," Ruhr Economic Papers 0511, Rheinisch-Westfälisches Institut für Wirtschaftsforschung, Ruhr-Universität Bochum, Universität Dortmund, Universität Duisburg-Essen.
    13. E. Monnet & C. Wolf, 2016. "Demographic Cycle, Migration and Housing Investment: a Causal Examination," Working papers 591, Banque de France.
    14. repec:eee:macchp:v2-1427 is not listed on IDEAS
    15. Döhrn, Roland & Barabas, György & Gebhardt, Heinz & Kitlinski, Tobias & Micheli, Martin & Vosen, Simeon & Zwick, Lina, 2013. "Die wirtschaftliche Entwicklung im Inland: Binnennachfrage trägt Aufschwung," RWI Konjunkturberichte, RWI - Leibniz-Institut für Wirtschaftsforschung, vol. 64(3), pages 41-103.
    16. Cohen, Jeffrey P. & Coughlin, Cletus C. & Lopez, David A., 2012. "The boom and bust of U.S. housing prices from various geographic perspectives," Review, Federal Reserve Bank of St. Louis, issue Sep, pages 341-368.

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    Macroeconomics - Econometric models ; Income ; Gross domestic product;

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