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Title:A rental-equivalence index for owner-occupied housing in West Germany 1985 to 1998 PDF Logo
Authors:Kurz, Claudia
Hoffmann, Johannes
Issue Date:2004
Series/Report no.:Discussion paper Series 1 / Volkswirtschaftliches Forschungszentrum der Deutschen Bundesbank 2004,08
Abstract:In this paper, we review the German practice of imputing the costs of owner-occupied housing by increasing the relative weight of actual rents in the CPI. As the structure of owner-occupied housing differs substantially from that of rental housing, this variant of the imputation method may cause a bias in the German CPI. For assessing the appropriateness of the German imputation method, we estimate alternative rental equivalent indices based on the GSOEP. We find some evidence of an understatement of the "true" rate of price increase, which is, however, not directly related to the imputation method.
Subjects:Consumer Price Index
hedonics
housing
matched models
JEL:C43
C21
R21
E31
D12
R31
Document Type:Working Paper
Appears in Collections:Discussion Paper Series 1: Economic Studies, Deutsche Bundesbank

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