Housing Rents and Inflation Rates

被引：2

作者：

Ambrose, Brent W. ^{[1
,2
]}

Coulson, N. Edward ^{[3
]}

Yoshida, Jiro ^{[4
,5
,6
]}

机构：

[1] Penn State Univ, Real Estate, University Pk, PA 16802 USA

[2] Penn State Univ, Real Estate, Smeal Coll Business, University Pk, PA 16802 USA

[3] Univ Calif Irvine, Paul Merage Sch Business, Econ, Irvine, CA USA

[4] Penn State Univ, Business, University Pk, PA 16802 USA

[5] Penn State Univ, Business, Smeal Coll Business, University Pk, PA 16802 USA

[6] Univ Tokyo, Grad Sch Econ, Tokyo, Japan

来源：

JOURNAL OF MONEY CREDIT AND BANKING | 2023年 / 55卷 / 04期

关键词：

inflation measurement; consumer price index (CPI); personal consumption expenditures (PCE); marginal rent index; repeat rent index; PRICES; MARKET; ELASTICITY; DEMAND; SAMPLE; INDEX; RULES;

D O I：

10.1111/jmcb.12971

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

This paper develops a quality-adjusted measure of marginal housing rents using a monthly statistic of landlord net rental income. The marginal rent index (MRI) exhibits deflation during recessions and leads the official rent index by 7 months. The modified inflation rate based on MRI suggests that the annual official inflation rate was overestimated by 1.7-4.1% during the Great Recession but underestimated by 0.3-0.7% during the subsequent expansionary period.

引用

页码：975 / 992

页数：18

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