Title Commercial property price indexes : problems of sparse data, spatial spillovers, and weighting / Mick Silver and Brian Graf

Published [Washington, D.C.] : International Monetary Fund, ©2014

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Description 1 online resource (31 pages) : color illustrations Series IMF working paper ; WP/14/72 IMF working paper ; WP/14/72. Summary "Transaction-price residential (house) and commercial property price indexes (RPPIs and CPPIs) have inherent problems of sparse data on heterogeneous properties, more so CPPIs. In an attempt to control for heterogeneity, (repeat-sales and hedonic) panel data regression frameworks are typically used for estimating overall price change. We address the problem of sparse data, demonstrate the need to include spatial price spillovers to remove bias, and propose an innovative approach to effectively weight regional CPPIs along with improvements to higher-level weighting systems. The study uses spatial panel regressions on granular CPPIs for the United States (US)"--Abstract Notes "Statistics Department"--Page 2 of pdf "April 2014"--Page 2 of pdf Bibliography Includes bibliographical references Notes Online resource; title from pdf title page (IMF.org Web site, viewed May 20, 2014) Subject Commercial real estate -- Prices -- Econometric models Housing -- Prices -- Econometric models Price indexes. Regression analysis -- Mathematical models. Housing -- Prices -- Econometric models. Price indexes. Regression analysis -- Mathematical models. Form Electronic book Author Graf, Brian (Brian Edward), 1965- author. International Monetary Fund. Statistics Department, issuing body.

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