Abstract
House price indexes (HPIs) while particularly important to the analysis of recessions, are prone to methodological and coverage differences which can undermine both within-country and cross-country economic analysis. The paper first uses a panel data set of 157 quarterly HPIs from 24 countries, along with associated measurement variables, to report on whether and how differences in HPI measurement matter. Second, revisits the modeling of the determinants of house price inflation using HPIs adjusted for differences in measurement practice.
Get full access to this article
View all access options for this article.