Working Paper
Introduction to price and productivity measurement for housing
Nakamura, Alice O.; Balk, Bert M.; Diewert, W. Erwin (2009)
This paper provides a brief introduction to a proposed new opportunity cost treatment of owner-occupied housing in measures of inflation for the United States. In addition, the paper introduces, and provides links to, a collection of nine other papers that discuss various aspects of the treatment of owner-occupied housing in measures of inflation for a number of nations, including Canada, Germany, Iceland, and the United States.
Working Papers , Paper 09-5

Journal Article
The formula
Burke, William (1979)
FRBSF Economic Letter

Journal Article
Indexes, inflation, and public policy
Runyon, Herbert (1981-04)
Economic Review , Issue Spr , Pages 44-56

Journal Article
Un-COLA?
Burke, William (1976)
FRBSF Economic Letter

Working Paper
Accounting for housing in a CPI
Nakamura, Alice O.; Diewert, W. Erwin (2009)
In this paper, we take stock of how statistical agencies in different nations are currently accounting for housing in their consumer price indexes (CPIs). The rental equivalence and user cost approaches have been favourites of economists. Both can be derived from the fundamental equation of capital theory. Concerns about these approaches are taken up. We go on to argue that an opportunity cost approach is the correct theoretical framework for accounting for owner-occupied housing (OOH) in a CPI. This approach, first mentioned in a 2006 OECD paper by Diewert, is developed more fully here. We ...
Working Papers , Paper 09-4