Measuring aggregate inflation is subject to two opposing biases: unobserved quality and variety growth, and the use of incorrect weights when new varieties are misclassified. We show that it is possible to measure an aggregate price index free of these biases when we have a subset of products...

This study presents a comprehensive bibliometric and systematic literature review analysis of the literature on the Big Mac Index (BMI) to identify its foundational aspects and summarize key findings. The BMI, an informal measure of purchasing power parity, has garnered scholarly interest in...

We introduce a novel, non-parametric approach for estimating house price indices that capture heterogeneous price developments independently of strict functional form assumptions. Utilizing the potential outcomes framework, our approach employs causal forests to effectively address changes in...

We develop a statistical-methodological framework for a set of core commercial real estate market indicators, which consists of a market price index, a gross rent index, and a net rental yield index as well a vacancy rate. We argue that the indicators should be (macro-)consistent, meaning that...

The consumer price index (CPI) plays a critical role in measuring inflation. Recent inflation trends, however, have raised questions about its accuracy. This paper evaluates several of these critiques, including that the CPI fails to keep up with rapid changes in consumer expenditure patterns;...

The FDZ Ruhr at RWI provides regional price indices for apartments and houses (rentals and sales) in Germany since 2008 through the RWI-GEO-REDX dataset, based on property listings from ImmoScout24 (RWI-GEO-RED). RWI-GEO-REDX stands out for its high spatial resolution: the exact location of each...

The FDZ Ruhr at RWI provides regional price indices for apartments and houses (rentals and sales) in Germany since 2008 through the RWI-GEO-REDX dataset, based on property listings from ImmoScout24 (RWI-GEO-RED). RWI-GEO-REDX stands out for its high spatial resolution: the exact location of each...

Der vorliegende IW-Wohnindex untersucht die Entwicklung der Kauf- und Mietpreise für Wohnimmobilien in Deutschland. Der Kurzreport erscheint vierteljährig. Auf der Basis von mehreren Millionen Wohnimmobilieninseraten werden Ergebnisse eines hedonischen Preisindex veröffentlicht, nähere...

The FDZ Ruhr at RWI offers price indices for apartments and houses (rentals and sales) in Germany, commencing in 2008. The price indices are derived from the RWI-GEO-RED real estate dataset, which integrates real estate listings from ImmoScout24. Three types of hedonic regressions are performed...

This Staff Memo presents an indicator used for monitoring and forecasting inflation at Norges Bank. The indicator is designed to capture international price impulses that impact the input costs of domestic firms. Our analysis indicates that the marked increase in the cost of imported...

This study addresses a significant gap in the existing literature by conducting a comprehensive systematic review of the art market over the past 50 years, utilizing big data analysis and bibliometric methods. Through descriptive statistical analysis, we gained insights into research trends,...