This paper develops constant-quality price indices for three categories of real estate-apartment buildings, vacant land, and condominiums--for the city of Geneva, Switzerland. We use both the hedonic and repeat sales models to estimate the price level and, in turn, the rate of price change. The...

Shiller (1993) proposes the hedonic repeated-measures (HRM) approach to measuring constant quality price indices for heterogeneous assets such as some bonds and real estate. We derive a mathematical relationship between the coefficients of the HRM model and those from the standard repeat-sales...

This paper uses a conditional performance measure to test whether real estate investment trust (REIT) managers announcing stock repurchases have private information about their firms' prospects. We use stock price to condition for public information and measure the managers' implied private...