Owner-occupied housing costs and bias in the Irish Consumer Price Index

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dc.contributor.author McCarthy, Colm
dc.date.accessioned 2007-10-01T10:36:05Z
dc.date.available 2007-10-01T10:36:05Z
dc.date.issued 2007-06
dc.identifier.uri http://hdl.handle.net/10197/42
dc.description.abstract The treatment of owner-occupied housing costs is a recurring problem in the construction of consumer price indices, and there are competing methodologies. In the most widely-used Irish index, the Payments Approach, which attaches a weight to a term involving historical house prices and an interest rate, is used to measure these costs. It is argued that this has resulted in a substantial over-statement of inflation in recent quarters, and that the over-statement will continue for some time. The Irish version of Eurostat’s Harmonised Index of Consumer Prices, recently running well below the CPI, is a more reliable guide. Few national statistical offices use the Payments Approach, and it is argued that the procedure used in Ireland should be reviewed. en
dc.format.extent 210276 bytes
dc.format.mimetype application/pdf
dc.language.iso en en
dc.publisher University College Dublin; School of Economics en
dc.relation.ispartofseries UCD Centre for Economic Research working paper series 2007 en
dc.relation.ispartofseries WP07/07 en
dc.subject Consumer Price Index en
dc.subject Cost of Living Index en
dc.subject Payments approach en
dc.subject Owner occupied housing en
dc.subject.classification C43 en
dc.subject.classification C82 en
dc.subject.classification D12 en
dc.subject.classification E31 en
dc.subject.lcsh Cost and standard of living en
dc.subject.lcsh Consumer price indexes en
dc.subject.lcsh Price indexes en
dc.title Owner-occupied housing costs and bias in the Irish Consumer Price Index en
dc.type Working Paper en
dc.internal.authorurl Colm McCarthy (web page) en
dc.internal.authorurl http://www.ucd.ie/economics/staff/cmccarthy/index.htm en
dc.internal.authorcontactother Email: colm.mccarthy@ucd.ie; Tel: +353 1 716 8334 en
dc.internal.authorid UCD00015 en
dc.internal.availability Full text available en
dc.status Not peer reviewed en
dc.neeo.contributor McCarthy|Colm|aut|UCD0015


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