English

Residential Property Price Indices (RPPI)

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Invitation
Course No.: BT 18.09
Location: Brasilia, Brazil
Date: November 5, 2018-November 9, 2018 (1 Week)
Language: Spanish

Target Audience:

Mid-level to senior officials and compilers responsible for, or planning to introduce or develop residential property price indexes (RPPI).

Qualifications:

Participants should have a degree in economics or statistics or equivalent experience.

Course Description:

This course, presented by the IMF Statistics Department, reviews data sources and methods for compiling RPPIs and outlines strategic issues for country-specific application. Emphasis is given to the importance of evaluating alternative data sources for compiling RPPIs in terms of coverage, timeliness, richness in terms of supporting a quality-mix methodology, suitability of a price measure, and weighting. Trade-offs involved in selecting data sources are considered, as are strategies for longer-run development of data sources. The methodological component of the course emphasizes the quality-mix problem; a change in the mix of properties transacted each period can bias measures of change in average prices. Mix-adjustment by stratification and hedonic regression are the main methods used to deal with this issue and interactive workshops deal with these topics. The course also highlights how data source and methodological issues are intertwined. The course follows the principles of the 2013 Handbook on RPPIs published by Eurostat, ILO, IMF, OECD, United Nations Economic Commission for Europe (UNECE), and World Bank.

Course Objectives:

Upon completion of this course, participants should be able to:

  • Identify the strengths and weaknesses of possible data sources for RPPIs.
  • Select the most appropriate method for RPPI compilation based on the availability of data.
  • Apply different methods for compiling RPPIs.
  • Make recommendations, where necessary, for the further development of data sources.

Important Note for Online Courses:

For Online Learning (OL) courses, which are delivered through the edX platform, you will need an additional piece of information to register: you will be prompted for your edX.org username. If you do not already have a username, please go to https://courses.edx.org/register and sign up for a free account. Once you have created an account, you may complete the IMF Institute application. If you already have an edX account, your username can be found on the top right of the screen after logging in.

Important Note for Internal Economics Training Courses:

Internal Economics Training (IT) courses are self-financed. The IMF will not charge officials for attending courses. However, all travel, insurance, hotel, and living costs will need to be covered by the agency sponsoring the participants.