html5-img
1 / 11

The RPPI Handbook Project

The RPPI Handbook Project. Bert M. Balk Statistics Netherlands and Rotterdam School of Management Erasmus University UNECE/ILO Meeting on CPI, Geneva, 10-12 May 2010. Funding. This project is funded by Eurostat,

iliana
Download Presentation

The RPPI Handbook Project

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. The RPPI Handbook Project Bert M. Balk Statistics Netherlands and Rotterdam School of Management Erasmus University UNECE/ILO Meeting on CPI, Geneva, 10-12 May 2010

  2. Funding • This project is • funded by Eurostat, • under the auspices of the Intersecretariat Working Group on Price Statistics, • and executed by Statistics Netherlands.

  3. Context • International Manuals/Handbooks: • Consumer Price Index Manual (ILO) • Producer Price Index Manual (IMF) • Export and Import Price Index Manual (IMF) • Measuring Capital (OECD) • Measuring Productivity (OECD) • …

  4. Important uses of RPPIs • Economic analysis (relating RPPIs to fundamentals, detection of bubbles, etc.) • Risk management by mortgage providers • Indicator of Financial Soundness (IMF/BIS) • Principal European Economic Indicator (Eurostat) • Wealth measurement (National Accounts, international comparison) • Measurement of dwelling services (CPI)

  5. Residential Property Price Index • Overall target of measurement: Value change of RP stock. • Various subsidiary targets. • Main problems: • Universe (RP stock) changes by addition, removal, depreciation, renovation • Prices only observed for transactions • Observed prices registered at different dates • Including or excluding land • Seasonal adjustment or not

  6. Main methods • Comparing (stratified) central location measures of transaction prices • Comparing repeat sales transaction prices • Comparing transaction prices to assessment (appraisal) prices • Hedonic regression method • Ideally each method should be able to • account for depreciation and renovation, • make the land-structure split.

  7. Data sources • Official registers • Mortgage companies / banks • Organisations of real estate agents • Surveys by NSOs

  8. Tentative contents + progress

  9. Timing of activities • May 2009 Start • Nov 2009 Eurostat-IAOS-IFC Basel conference: presentation of project and gathering of user needs • May 2010 UNECE/ILO CPI Meeting: First partial drafts available • Sept 2010 Second draft available • Feb 2011 RPPI Workshop: Third draft available • May 2011 Final draft

  10. Team • Bert M. Balk – Statistics Netherlands; Rotterdam School of Management, Erasmus University • Jan de Haan – Statistics Netherlands • W. Erwin Diewert – University of British Columbia • Marc Prud’homme – Statistics Canada; University of Ottawa • David Fenwick - consultant

  11. Contact • bbalk@rsm.nl

More Related