Estimating Inter-city Differences in the Price of Housing Services: Further Evidence 1

Robert Gillingham and John S. Greenlees
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John S. Greenlees: Division of Price and Index Number Research, Office of Prices and Living Conditions, US Bureau of Labor Statistics

Urban Studies, 1981, vol. 18, issue 3, 365-369

Abstract: This paper reconsiders an approach to inter-area house price index construction applied by Harvey Rosen in a recent article in Urban Studies. Rosen's cost function-based approach is shown to rely upon certain implicit assumptions regarding consumer preferences and housing production technology. Using FHA home purchase data, we estimate a more general production model and generate alternative inter-area indexes. Based on our results, Rosen's production technology assumptions are rejected. Further, the production-theoretic indexes are shown to differ only negligibly from a fixed-weight index using FHA data. Thus the difference which Rosen finds between the production-theoretic FHA and published BLS indexes does not result from Rosen's recognition of substitution in production, but because of very different data sources and scopes of coverage.

Date: 1981
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Persistent link: https://EconPapers.repec.org/RePEc:sae:urbstu:v:18:y:1981:i:3:p:365-369

DOI: 10.1080/00420988120080661

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