4 edition of The stability of dummy variable price measures obtained from hedonic regressions found in the catalog.
The stability of dummy variable price measures obtained from hedonic regressions
|Series||Finance and economics discussion series ;, 2003-05, Finance and economics discussion series (Online) ;, 2003-05.|
|The Physical Object|
|LC Control Number||2004616538|
A recent paper by Heravi and Silver (b) also raised questions about the usefulness of hedonic regressions since this paper presented several alternative hedonic regression methodologies and obtained different empirical results using the alternative models. Please read our short guide how to send a book to Kindle. Save for later. Most frequently terms. happiness utility income economic satisfaction individuals social economics research political life satisfaction .
Value of t-ratio of slope coefﬁcient for 1, sets of regressions of a non-stationary variable on another independent non-stationary variable Example of a white noise process Time series plot of a random walk versus a random walk with drift Time series plot of a deterministic trend process Autoregressive processes with differing values of φ. A fall in the world oil price and thus pre-tax price of gasoline would reduce the market price of gasoline, despite the tax, rendering the optimum price to ensure the target reduction unattainable. Fig. explains the fall in world oil price and its effect on the effectiveness of a gasoline tax .
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Downloadable. Although the stability of coefficients from hedonic regressions has received much attention recently, that of dummy variable (DV) price indexes obtained from these regressions has not. In principle, one problem translates into the other only when some prices are not observed in the data.
Numerically, however, DV measures obtained from a "typical" specification can be quite. "The stability of dummy variable price measures obtained from hedonic regressions," Finance and Economics Discussion SeriesBoard of Governors of the Federal Reserve System (U.S.). Feenstra, Robert C, "Exact Hedonic Price Indexes," The Review of Economics and Statistics, MIT Press, vol.
77(4), pagesNovember. Although the stability of coefficients from hedonic regressions has received much attention recently, that of dummy variable (DV) price indexes obtained from these regressions has not. Thus, “the price index number formula implied by a dummy variable (logarithm ic) regression run on matched models is a ratio of equally -weighted geometric m eans” (Triplett, ).
Time Dummy Variable Method. The time dummy variable approach to constructing a hedonic house price index has been used frequently in academic studies but not so much by statistical agencies.() One advantage of this approach is its simplicity; the price index follows immediately from the estimated.
pooled time dummy regression equation ().Running one overall regression on the pooled. In its most frequently used, time-dummy, specification, housing transactions from multiple periods are pooled into a single hedonic model to estimate the vector of time dummy coefficients δ t, and subsequently the house price index can be computed on the basis of δ t (Kain and Quigley,Gourieroux and Lafererre, ).Cited by: 7.
These indices use hedonic regressions, say by including a dummy variable for time on the right-hand side of the equation, to estimate the quality-adjusted price change, as outlined below and in Chapter 7, and build upon the theory in Chapter 17 and paragraphs to The dummy variable reported in the ECM regressions is also included in the forward model.
The instruments used are two-lagged values of y, w, u np, u na, u nc, u u, q, p vs, d, a constant and the dummy. Given that our sample period ends in Q4, and that we used four lead periods, we could not carry out ex post forecast tests beyond by: Gasoline Price Coefficient Estimates: Used Car Price Equation Variable Coefficient (std.
error) Gasoline Price * MPG Quartile 1 Dummy (38) Gasoline Price * MPG Quartile 2 Dummy (57) Gasoline Price * MPG Quartile 3 Dummy 76 (71) Gasoline Price * MPG Quartile 4 Dummy (56) Source: Busse et al.
(, p. Dr is dummy-variable regressor or an indicator variable, is coded 1 for all years after the trade liberalization and 0 for all years before the trade liberalization.
In this equation, represent intercept and the value of sigma when year (t) is zero. Actually, the hedonic price theory has also been used on varieties of goods. Ina study by Taylor and Smith indicated that the hedonic price model could be applied to rent rate for vacation amenities (Taylor ).
Also, there are many studies applying hedonic theory to File Size: 2MB. The ever-changing mix and quality of products and services available in the market create difficult problems for price index construction. At a basic conceptual level, the problem is easy to understand: under either of the conceptual frameworks we have discussed, unadjusted price comparisons between an item and a non-identical replacement cannot generally be treated as equivalent to.
The presence of and proximity to water influences human settlement decisions, because water has been able to characterize the environment and affect human health since prehistoric times.
Many scholars have studied the effects of environmental amenities on the real estate market; however, only a few of them have explored the effects of water. This study stresses the role of water with a focus Cited by: 6.
Title: Hedonic approaches to measuring price and quality change in personal computer systems: Creator: Chwelos, Paul: Date Issued: Description: Although computers have long been studied in terms of their changing price/performance ratio, the issue of accounting for performance in computer systems has not been adequately addressed.
The purpose of this paper is to examine the effect on price of different cruise industry characteristics from the point of view of actual prices. The analysis is carried out from the supply side but taking into account the real prices paid by customers.,This paper uses the hedonic price methodology.
To develop this research, a database of more t prices paid by cruise passengers and Cited by: 4. User experience has garnered increasing interest from researchers in the field of sustainable human–computer interaction (HCI) design.
One of the key pillars to building sustainable user experience for digital applications is to be able to identify powerful triggers of detracting behavior and especially those of radical detraction.
In the past, traditional methods of user experience Author: Lin Feng, Wei Wei. The Diamond Investment Possibility Finance Essay. the coefficients obtained from the hedonic model would allow identifying the base price for any property plus the shadow price of each of the characteristics.
With this information real estate agents in the city may be able to price new properties for sale. d_kt stands for a dummy. Volume 5, Issue 1, Spring The variable NEWB is a dummy variable for Newburgh, and the D variables are indicators for 20 categories of drug therapy. They are included as crude controls '' Results from regressions with and without the cap on PFREQdiffer very little.
The hedonic technique (Waugh ; Court ) involves regressing unit prices for different varieties on measures of quality characteristics or attributes; if the varieties are distinguished by time periods, a simple technique for obtaining a quality-adjusted price index is to introduce dummy variables for periods in a multiple regression Author: Marc Nerlove.
I develop an empirical model of housing demand which is based as closely as possible on a theoretical intertemporal model of consumer demand. In the empirical model, intertemporal behavior by households is incorporated in two ways. First, a household's expected length of occupancy in a dwelling is a parameter in the model; thus, households are able to choose when to move.
Second, a household's.The Stability of Dummy Variable Price Measures Obtained from Hedonic Regressions (PDF) Ana Aizcorbe Abstract: Although the stability of coefficients from hedonic regressions has received much attention recently, that of dummy variable (DV) price indexes obtained from these regressions has not.We are going to use as an example a time series of UK average house price data obtained from Nationwide, which comprises monthly observations from .