Revisiting the past and settling the score index revision for house price derivatives
Language: English Series: Real Estate Economics ; 34(2) Summer 2006, 275-302(28)Publication details: 2006Subject(s): Summary: Examines index revision in measuring the prices for owner-occupied housing. Considers revision in the context of equity insurance and the settlement of futures contracts. The usefulness of aggregate housing price indexes depends on their stability as they are extended. Methods that are subject to substantial revision raise questions about the viability of derivatives markets. Finds that the most widely used house price indexes are not equally exposed to volatility in revision: hedonic indexes appear to be substantially more stable than repeat-sales indexes. [Taken from journal abstract].| Item type | Current library | Call number | Copy number | Status | Barcode | |
|---|---|---|---|---|---|---|
| Journal article | London Journal article | L133902 (Browse shelf(Opens below)) | 1 | Available | 133902-1001 |
Examines index revision in measuring the prices for owner-occupied housing. Considers revision in the context of equity insurance and the settlement of futures contracts. The usefulness of aggregate housing price indexes depends on their stability as they are extended. Methods that are subject to substantial revision raise questions about the viability of derivatives markets. Finds that the most widely used house price indexes are not equally exposed to volatility in revision: hedonic indexes appear to be substantially more stable than repeat-sales indexes. [Taken from journal abstract].