Metodología para Estimar un Indice Regional de Costo de Vivienda en Chile

Dusan Paredes () and Patricio Aroca ()

Cuadernos de Economía (Latin American Journal of Economics), 2008, vol. 45, issue 131, pages 129-143

Abstract: The aim of this article is to develop a methodology for a spatial or regional cost index of housing that considers spatial differentials across regions. Using microdata from the Chilean survey CASEN 2003, it is showed that a spatial or regional housing price index based on the weighted mean or the estimators of hedonic price equations might lead to biased results due to spatial heterogeneity. The potential bias is reduced by matching the houses in a region with a clone in the Metropolitan Region, according to own and neighbors’ characteristics using propensity scores. As a result a very different pattern of spatial cost of housing arises. Finally, using a Fisher ideal price index, the paper proposes a spatial or regional cost index of housing that shows price differences for homogeneous houses across regions.

Keywords: Housing Cost Index; Hedonic Prices Index; Matching Estimator; Spatial Fisher Index. (search for similar items in EconPapers)
JEL-codes: R21 C43 C25 (search for similar items in EconPapers)
Date: 2008

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Persistent link: http://EconPapers.repec.org/RePEc:ioe:cuadec:v:45:y:2008:i:131:p:129-143

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