Owner-occupied housing costs and bias in the Irish consumer price index

Arbeitspapier

The treatment of owner-occupied housing costs is a recurring problem in the construction of consumer price indices, and there are competing methodologies. In the most widely-used Irish index, the Payments Approach, which attaches a weight to a term involving historical house prices and an interest rate, is used to measure these costs. It is argued that this has resulted in a substantial over-statement of inflation in recent quarters, and that the over-statement will continue for some time. The Irish version of Eurostat's Harmonised Index of Consumer Prices, recently running well below the CPI, is a more reliable guide. Few national statistical offices use the Payments Approach, and it is argued that the procedure used in Ireland should be reviewed.

Angaben zum Objekt

• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Series: UCD Centre for Economic Research Working Paper Series ; No. WP07/07

Klassifikation und Themen

• Klassifikation: Wirtschaft ; Index Numbers and Aggregation; Leading indicators ; Methodology for Collecting, Estimating, and Organizing Macroeconomic Data; Data Access ; Consumer Economics: Empirical Analysis ; Price Level; Inflation; Deflation
• Thema: Consumer Price Index ; Cost of Living Index ; Payment Approach ; Owner-Occupied Housing ; Lebenshaltungsindex ; Wohneigentum ; Wohnkosten ; Schätzung ; Irland

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): McCarthy, Colm
• Ereignis: Veröffentlichung
• (wer): University College Dublin, UCD School of Economics
• (wo): Dublin
• (wann): 2007

Weitere Informationen

• Handle: http://hdl.handle.net/10419/43342
• Letzte Aktualisierung: 10.03.2025, 11:44 MEZ