This Working Paper should not be reported as representing the views of the IMF. The views expressed in this Working Paper are those of the author and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author and are published to elicit comments and to further debate. This paper estimates the evolution of equilibrium real home prices ...

Housing transactions are executed and recorded daily, but are routinely pooled into longer time periods for the measurement and analysis of housing price trends. We utilize an unusually rich data set, covering essentially all arm's length housing sales in Sweden for a dozen years, in an attempt to understand the effect of temporal aggregation upon estimates of housing prices and their volatilit...

1 Special thanks to Brendon Ogmundson and the British Columbia Real Estate Association for providing housing price data. Additional thanks to Carol Frketich and Daryoush Aslebiza for providing housing stock data.

THE DYNAMICS OF HOUSING PRICES: AN INTERNATIONAL PERSPECTIVE∗ by Peter Englund Yannis M. Ioannides Department of Economics Department of Economics University of Uppsala VPI&SU S–751 20 Uppsala Sweden Blacksburg, VA 24061-0316 Telephone: 46-18-181105 Telephone: 1-703-231-7981 Email: Email: yannis@vtvm1 This paper provides an international perspective on the dynamics of housing prices in alternat...

The life-cycle theory of consumption draws a well-established distinction between the implications for consumption of changes in wealth perceived to be of a “transitory” as opposed to a “permanent” nature. In this paper, using a unique combination of regulatory and survey micro-data, we examine the importance of the life-cycle theory, in estimating housing wealth effects for the Irish mortgage ...

Urbanization and industrialization in China result in dramatic growth of population in urban areas. The housing price rises so high that low-income people living in urban cannot afford to buy their own houses. In order to alleviate their housing plight, affordable housing has been built in mainland China. However, unfair distribution of affordable housing failed to accomplish the goal of this p...

This technical paper lays out the methodology used to develop a hedonic price model to measure price trends around The 606, a newly established linear park system on the northwest side of Chicago. Two pricing models were required to understand how the housing market responded to the development of the trail. First, in order to analyze the project’s impact by time and geographical area, the Inst...