Alternative Approaches to Commercial Property Price Indexes for Tokyo PDF Download

Author: Erwin Diewert
Publisher:
ISBN:
Category :
Languages : en
Pages :

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Author: Emili Grifell-Tatjé
Publisher: Oxford University Press
ISBN: 0190226722
Category : Business & Economics
Languages : en
Pages : 656

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Book Description
Productivity underpins business success and national well-being and thus it is crucial to understand the factors that influence productivity growth. This volume provides a comprehensive exploration into the significance of productivity growth for business, the economy, and for social economic progress. It examines how productivity is defined, measured and implemented. It also surveys the dispersion of productivity across time and place, focusing on the productivity dynamics that either leads to a reallocation of resources that reduces dispersion and increases aggregate productivity or, conversely, allows dispersion to persist behind barriers to productivity-enhancing reallocation. A third focus is an investigation of the drivers of, or impediments to, productivity growth, some of which are organizational in nature and under management control and others of which are institutional in nature and subject to public policy intervention. The Oxford Handbook of Productivity Analysis contains contributions of distinguished productivity experts from around the world who analyze a wide range of timely issues. These issues concern purely analytical topics surrounding the measurement of productivity in various situations, beginning with the ideal situation in which all inputs and all outputs, and their prices, are observed accurately. They also include service sectors such as education in which the services provided are hard to define, much less measure, and other sectors that generate undesirable environmental externalities that are difficult to price and complicate the very definition of productivity. The issues also involve business management topics ranging from the role of business models and benchmarking to the quality of management practices, the adoption of new technologies, and possible complementarities between the two. The relationship between productivity and business performance is also explored. At a more aggregate level the issues range from the impacts of market power, incentive regulation, international trade and global value chains on productivity, to the contribution of productivity to economic development and economic welfare.

Author: Syed Abdul Rehman Khan
Publisher: BoD – Books on Demand
ISBN: 1789849721
Category : Business & Economics
Languages : en
Pages : 138

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This book is unique! Until now, purchasing and supply management books have had a primarily domestic outlook. However in this book, important issues related to sales management and supply management are handled with a modern perspective. This book has global vision tied into management principles based on an understanding of the sales management and basic job of purchasing and supply management, as all authors have held high-level positions directing the effort. Distinguished researchers from prestigious universities have written chapters and case studies from real-world events that challenge the brightest minds.

Author: W. Erwin Diewert
Publisher: Springer
ISBN: 9784431559405
Category : Business & Economics
Languages : en
Pages : 0

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This book answers the question of how exactly property price indexes should be constructed. The formation and collapse of property bubbles has had a profound impact on the economic administration of many nations. The property price bubble that began around the mid-1980s in Japan has been called the 20th century's biggest bubble. In its aftermath, the country faced a period of long-term economic stagnation dubbed the "lost decade." Sweden and the United States have also faced collapses of property bubbles in the 20th and early 21st centuries, respectively. It has been pointed out that the "information gap" that existed between policy-making authorities and the property (including housing) and financial markets was a problem. In 2009, the IMF proposed the creation of a housing price index to the G20 in order to fill this information gap, and the proposal was adopted. Furthermore, in 2011, it was suggested that the next economic crisis would be caused by a bubble in commercial property prices, and it was decided to create a commercial property index as well. This book provides practical examples of how the theory of property price indexes can be applied to the issues of property as a non-homogenous good and a technological and environmental change.

Author: Mick Silver
Publisher: International Monetary Fund
ISBN: 1475552246
Category : Business & Economics
Languages : en
Pages : 89

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Hedonic regressions are used for property price index measurement to control for changes in the quality-mix of properties transacted. The paper consolidates the hedonic time dummy approach, characteristics approach, and imputation approaches. A practical hedonic methodology is proposed that (i) is weighted at a basic level; (ii) has a new (quasi-) superlative form and thus mitigates substitution bias; (iii) is suitable for sparse data in thin markets; and (iv) only requires the periodic estimation of hedonic regressions for reference periods and is not subject to the vagrancies of misspecification and estimation issues.

Author: Mick Silver
Publisher: International Monetary Fund
ISBN: 1484364546
Category : Business & Economics
Languages : en
Pages : 31

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Transaction-price residential (house) and commercial property price indexes (RPPIs and CPPIs) have inherent problems of sparse data on heterogeneous properties, more so CPPIs. In an attempt to control for heterogeneity, (repeat-sales and hedonic) panel data regression frameworks are typically used for estimating overall price change. We address the problem of sparse data, demonstrate the need to include spatial price spillovers to remove bias, and propose an innovative approach to effectively weight regional CPPIs along with improvements to higher-level weighting systems. The study uses spatial panel regressions on granular CPPIs for the United States (US).

Author: OECD
Publisher: OECD Publishing
ISBN: 9264235175
Category :
Languages : en
Pages : 174

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The repercussions of the 2007–2008 financial crisis have acted as an impetus to improve the quality and availability of statistical information. One such initiative addresses the importance of compiling a complete accounting of a nation’s wealth, and especially the wealth of households. This is ...

Author: Statistical Office of the European Communities
Publisher: International Monetary Fund
ISBN: 1475588313
Category : Business & Economics
Languages : en
Pages : 186

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For most citizens, buying a residential property (dwelling) is the most important transaction during their lifetime. Residential properties represent the most significant component of households’ expenses and, at the same time, their most valuable assets. The Residential Property Prices Indices (RPPIs) are index numbers measuring the rate at which the prices of residential properties are changing over time. RPPIs are key statistics not only for citizens and households across the world, but also for economic and monetary policy makers. Among their professional uses, they serve, for example, to monitor macroeconomic imbalances and risk exposure of the financial sector. This Handbook provides, for the first time, comprehensive guidelines for the compilation of RPPIs and explains in depth the methods and best practices used to calculate an RPPI. It also examines the underlying economic and statistical concepts and defines the principles guiding the methodological and practical choices for the compilation of the indices. The Handbook primarily addresses official statisticians in charge of producing residential property price indices; at the same time, it addresses the overall requirement on RPPIs by providing a harmonised methodological and practical framework to all parties interested in the compilation of such indices. The RPPIs Handbook has been written by leading academics in index number theory and by recognised experts in RPPIs compilation. Its development has been coordinated by Eurostat, the statistical office of the European Union, with the collaboration of the International Labour Organization (ILO), International Monetary Fund (IMF), Organisation for Economic Co-operation and Development (OECD), United Nations Economic Commission for Europe (UNECE) and the World Bank.

Author: Walter E. Diewert
Publisher:
ISBN:
Category :
Languages : en
Pages :

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Author: Simon Briscoe
Publisher: Harriman House Limited
ISBN: 1897597746
Category : Business & Economics
Languages : en
Pages : 360

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A comprehensive dictionary focusing on financial and investment terminology. An essential reference work for anyone working in the City or related industries. More than 2,600 essential financial terms and acronyms covering the stock, options, futures and capital markets, as well as personal finance. Based on the popular website, www.Finance-Glossary.com. The majority of terms are cross-referenced and any relevant URLs are also provided. Edited by two highly experienced financial writers.