The Resource House Prices and Inflation in the Euro Area, Boris Cournède, (electronic resource)
House Prices and Inflation in the Euro Area, Boris Cournède, (electronic resource)
Resource Information
The item House Prices and Inflation in the Euro Area, Boris Cournède, (electronic resource) represents a specific, individual, material embodiment of a distinct intellectual or artistic creation found in University of Missouri-St. Louis Libraries.This item is available to borrow from all library branches.
Resource Information
The item House Prices and Inflation in the Euro Area, Boris Cournède, (electronic resource) represents a specific, individual, material embodiment of a distinct intellectual or artistic creation found in University of Missouri-St. Louis Libraries.
This item is available to borrow from all library branches.
- Summary
- The inflation measure used by the European Central Bank excludes housing costs that are borne by home owners even though they make up more than a tenth of household final consumption expenditure in the euro area. Has the exclusion of owner-occupied housing costs driven a wedge between the official harmonised index of consumer prices (HICP) and the cost of living? To answer this question, a measure of the user cost of housing capital has been constructed for every euro area country (except Luxembourg). User costs are measured taking into account property taxes but net of tax breaks that home owners enjoy on mortgage repayments. The user cost measure is combined with the HICP to derive a "broad" inflation estimate. For the sake of comparison, an alternative estimate has been put together using imputed rents. The main conclusion is that owner-occupied housing costs have an impact. Another important conclusion is that the effect of owner-occupied housing costs on inflation varies noticeably with the method used to incorporate them into the price index. The paper finally discusses the choice of the method from the point of view of economic policy makers. "This Working Paper relates to the 2005 OECD Economic Survey of Euro Area (www.oecd.org/eco/surveys/Euroarea)"
- Language
- eng
- Extent
- 1 online resource 20 pages
- Label
- House Prices and Inflation in the Euro Area
- Title
- House Prices and Inflation in the Euro Area
- Statement of responsibility
- Boris Cournède
- Language
- eng
- Summary
- The inflation measure used by the European Central Bank excludes housing costs that are borne by home owners even though they make up more than a tenth of household final consumption expenditure in the euro area. Has the exclusion of owner-occupied housing costs driven a wedge between the official harmonised index of consumer prices (HICP) and the cost of living? To answer this question, a measure of the user cost of housing capital has been constructed for every euro area country (except Luxembourg). User costs are measured taking into account property taxes but net of tax breaks that home owners enjoy on mortgage repayments. The user cost measure is combined with the HICP to derive a "broad" inflation estimate. For the sake of comparison, an alternative estimate has been put together using imputed rents. The main conclusion is that owner-occupied housing costs have an impact. Another important conclusion is that the effect of owner-occupied housing costs on inflation varies noticeably with the method used to incorporate them into the price index. The paper finally discusses the choice of the method from the point of view of economic policy makers. "This Working Paper relates to the 2005 OECD Economic Survey of Euro Area (www.oecd.org/eco/surveys/Euroarea)"
- Cataloging source
- FR-PaOEC
- http://library.link/vocab/creatorName
- Cournede, Boris
- Government publication
- international or intergovernmental publication
- Index
- no index present
- Literary form
- non fiction
- Nature of contents
- dictionaries
- Series statement
- OECD Economics Department Working Papers,
- Series volume
- no.450
- http://library.link/vocab/subjectName
-
- Economics
- Euro Area
- Label
- House Prices and Inflation in the Euro Area, Boris Cournède, (electronic resource)
- Antecedent source
- not applicable
- Carrier category
- online resource
- Carrier category code
-
- cr
- Carrier MARC source
- rdacarrier
- Content category
- text
- Content type code
-
- txt
- Content type MARC source
- rdacontent
- Control code
- 762081002
- Dimensions
- 21 x 30 cm
- Extent
- 1 online resource 20 pages
- File format
- one file format
- Form of item
- online
- Media category
- computer
- Media MARC source
- rdamedia
- Media type code
-
- c
- Other control number
- 10.1787/037842735074
- Specific material designation
- remote
- System control number
- (OCoLC)762081002
- Label
- House Prices and Inflation in the Euro Area, Boris Cournède, (electronic resource)
- Antecedent source
- not applicable
- Carrier category
- online resource
- Carrier category code
-
- cr
- Carrier MARC source
- rdacarrier
- Content category
- text
- Content type code
-
- txt
- Content type MARC source
- rdacontent
- Control code
- 762081002
- Dimensions
- 21 x 30 cm
- Extent
- 1 online resource 20 pages
- File format
- one file format
- Form of item
- online
- Media category
- computer
- Media MARC source
- rdamedia
- Media type code
-
- c
- Other control number
- 10.1787/037842735074
- Specific material designation
- remote
- System control number
- (OCoLC)762081002
Library Locations
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St. Louis Mercantile LibraryBorrow it1 University Blvd, St. Louis, MO, 63121, US38.710138 -90.311107
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University ArchivesBorrow it703 Lewis Hall, Columbia, MO, 65211, US
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University of Missouri-St. Louis Libraries DepositoryBorrow it2908 Lemone Blvd, Columbia, MO, 65201, US38.919360 -92.291620
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University of Missouri-St. Louis Libraries DepositoryBorrow it2908 Lemone Blvd, Columbia, MO, 65201, US38.919360 -92.291620
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Ward E Barnes Education LibraryBorrow it8001 Natural Bridge Rd, St. Louis, MO, 63121, US38.707079 -90.311355
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<div class="citation" vocab="http://schema.org/"><i class="fa fa-external-link-square fa-fw"></i> Data from <span resource="http://link.umsl.edu/portal/House-Prices-and-Inflation-in-the-Euro-Area/waTFV1HmY_w/" typeof="Book http://bibfra.me/vocab/lite/Item"><span property="name http://bibfra.me/vocab/lite/label"><a href="http://link.umsl.edu/portal/House-Prices-and-Inflation-in-the-Euro-Area/waTFV1HmY_w/">House Prices and Inflation in the Euro Area, Boris Cournède, (electronic resource)</a></span> - <span property="potentialAction" typeOf="OrganizeAction"><span property="agent" typeof="LibrarySystem http://library.link/vocab/LibrarySystem" resource="http://link.umsl.edu/"><span property="name http://bibfra.me/vocab/lite/label"><a property="url" href="http://link.umsl.edu/">University of Missouri-St. Louis Libraries</a></span></span></span></span></div>
