2014 Fiscal Year Final Research Report
Estimation of Property Price Indexes
| Project/Area Number |
23330084
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| Research Category |
Grant-in-Aid for Scientific Research (B)
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| Allocation Type | Single-year Grants |
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| Section | 一般 |
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| Research Field |
Applied economics
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| Research Institution | Reitaku University |
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Principal Investigator |
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| Co-Investigator(Kenkyū-buntansha) |
唐渡 広志 富山大学, 経済学部, 教授 (00345555)
佐藤 英人 帝京大学, 経済学部, 准教授 (00396798)
森田 学 青森中央学院大学, 経営法学部, 専任講師 (40599560)
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| Research Collaborator |
吉田 二郎 ペンシルバニア州立大学, ビジネススクール, 准教授
DIEWERT W. Erwin ブリティッシュコロンビア大学, 経済学部, 教授
DENG Yongheng シンガポール国立大学, ファイナンス学部, 教授
GELTNER David マサチューセッツ工科大学, 不動産センター, 教授
CKARK Terry Nicholas シカゴ大学, 社会学部, 教授
CHAU Kwong Wing 香港大学, 建設不動産学部, 教授
WONG Kelvin S.K. 香港大学, 建設不動産学部, 准教授
FUERST Franz ケンブリッジ大学, 土地経済学部, 教授
FOX Kevin ニューサウスウェールズ大学, 経済学部
HILL Robert グラッツ大学, 経済学部, 教授
EMILI Tortosa-Ausina Universitat Jaume I de Castelló, 経済学部, 教授
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| Project Period (FY) |
2011-04-01 – 2015-03-31
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| Keywords | 不動産価格指数 / 指数理論 / ヘドニック価格法 / リピートセールス価格法 / ユーザーコスト / Flexible Functional Form / Builder's Model |
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| Outline of Final Research Achievements |
The European statistical agency, published “Residential Property Price Index (RPPI) Handbook”. This book describes some of the problems associated with constructing price indexes for residential house prices and gives advice on methods that could be used in order to construct house price indexes. If accurate regional house price indexes for the U.S. would have been widely available to the public, it is unlikely that so many bad housing loans would have been made; i.e., the housing bubble would have been immediately visible and both lenders and borrowers could have foreseen that U.S. house price inflation rates over the period 2000-2007 were not sustainable. Part of the problem is that national statistical agencies have not constructed official house price indexes. The RPPI Handbook is an attempt by the international statistical community to encourage countries to construct house price indexes according to the suggested “best practices” that are laid out in the Handbook.
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| Free Research Field |
指数理論; 不動産経済学; 応用計量経済学
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