In EU countries, knowledge on spatial disparities in overall price level is extremely scarce. When interregional price disparities are large, however, nominal income measures fail to assess prosperity and the catch-up processes of regions. Despite its importance for regional policy, no official regional price statistic is available as a standard. On account of this gap, this paper deals with th...

Households in the United States have long tended to concentrate their wealth in housing. In 2001, 68% of U.S. households were homeowners, according to the Federal Reserve’s Survey of Consumer Finances.1 The net worth of the median homeowner household was $171,700. The value of the median household’s primary residence was $123,000, and its housing equity was $53,000, or about 31% of its total ne...

This paper aims to fill two purposes: 1) we document that housing price index between different cities have inter-correlation. means when the in one city goes up other follows. However, case of a big and small city, follows path city. 2) The is measure wellbeing wealth residents. At onset pandemic, wealthy richer people wealth-protective shield against disease. We show this US. higher indexes a...

In recent years, the prices of city commercial housing are soaring, causing wide attention of public and fierce discussion about whether it is reasonable for the housing prices in China. This paper attempts to establish a method to measure housing price-rationalization. Firstly, the paper establishes rationalization evaluation system of housing price from commercial housing price formation, res...

This paper examines the effects of selected macroeconomic variables on the stock market index in Iran. Using quarterly data, we examine the relationships between the Tehran Stock Index (TSI) and five macroeconomic variables which consist of gross domestic product, nominal effective exchange rate, money supply, gold coin price and investment in housing sector from 1996:1 to 2008:1.Various e...

There is a bitter controversy over what drives the housing price in China in the existing literature. In this paper, we investigate the underlying driving force behind housing price fluctuations in China, especially focusing on the role of housing demand shock with that of money supply shock in explaining housing price movements, by a new Keynesian dynamic stochastic general equilibrium model. ...

The rent of shelter accounts for approximately a third of the Consumer Price Index (CPI). Using a new housing rent index (RRI) developed by Ambrose, Coulson, and Yoshida (2014), we modify the CPI and compute the Taylor rule for the period from 2000 to 2010. With this timely rent index, Taylor rule becomes more consistent with the Federal funds rate than the conventional calculations. However, t...

Changes in home owners’ wealth is measured by using an index of property prices constructed from sales transactions. Since only a very small proportion of the housing stock is offered to the market in any given time period, the index is a proxy for change in the price of all properties. The accuracy of the index determines its suitability as a ‘good’ proxy in reflecting price changes. Several m...