ICBS RESPONSE ON RENTAL PRICE INDEX

Icbs Response On Rental Price Index
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Icbs Response On Rental Price Index: The Israel Central Bureau of Statistics

Israel Economic Review, 2019, vol. 17, issue 1, 133-134

Abstract: The Israel Central Bureau of Statistics (ICBS) welcomes discussion of its methods, and attempts to improve them accordingly. The two important papers that examine the rental price index are not based on new information from apartments left by their tenants, but rather on assumptions that may or may not have existed at the time under study. We agree in principle on the need to enumerate apartments where tenants have been replaced, and have initiated this process as of October 2018. However, the magnitude of bias from underrepresenting such apartments in the past is not clear. We also fear that fitting a Hedonic regression model, which is missing some key variables, such as apartment type, apartment age, and surface area, may lead to wrong conclusions.

Date: 2019
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