Construction of a Spatial Housing Price Index by Estimating an Almost Ideal Demand System

Bibliographic Data

ID10833400
AuthorsVíctor Iturra (0000-0002-7477-5648, Departament de Economics Universidad Catolica del Norte Antofagasta Chile, corresponding author), Dusan Paredes (0000-0002-7090-5919, Departament de Economics Universidad Catolica del Norte Antofagasta Chile)
Year2014
Volume105
Issue3
Pages301-314
Publication date2014-07-01
Open AccessYes
TypeARTICLE
VenueTijdschrift voor Economische en Sociale Geografie (JOURNAL)
Journal identifiersISSN: 0040-747X • E-ISSN: 1467-9663
PublisherWiley (PUBLISHER • GB)
DOI10.1111/tesg.12067
OpenAlexW2118538652
LanguageEN
Citations received7
References cited19

The aim of this paper is to build, for the first time, a spatial housing price index for the Chilean communities. The first step is to recover hedonic prices of three housing attributes by estimating a mixed index model using a generalised method of moments ( GMM ) procedure. Second, a censored almost ideal demand system is estimated to build expenditures for every community and to compare them among different spatial units, while maintaining a constant utility level. Using micro data from the 2009 CASEN survey, we show that there are important differences in the expenditure of a consumer in Santiago to access the same level of welfare in another community in the country and there are important differences in housing prices among Chilean communities

Almost ideal demand system · Econometrics · Economics · Ideal (ethics · Index (typography · Microeconomics · Price index · Production (economics · Welfare · Computer Science · Fiscal Policy and Economic Growth · Housing Market and Economics · Regional Economics and Spatial Analysis

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