Working Paper
Measuring housing services inflation
Abstract: Recent papers have questioned the accuracy of the Bureau of Labor Statistics' methodology for measuring implicit rents for owner-occupied housing. The authors propose cross-checking the BLS statistics by using data on owner-occupied and rental housing from the American Housing Survey. A hedonic approach that explicitly calculates capitalization rates appears to be a feasible one for developing a methodologically consistent measure of the rental cost of owner-occupied housing.
Keywords: Consumer price indexes; Housing;
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File(s): File format is application/pdf https://www.philadelphiafed.org/-/media/frbp/assets/working-papers/1999/wp99-9.pdf
Bibliographic Information
Provider: Federal Reserve Bank of Philadelphia
Part of Series: Working Papers
Publication Date: 1999
Number: 99-9