OECD Statistics Working Papers

1815-2031 (online)
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The OECD Statistics Working Paper Series - managed by the OECD Statistics Directorate – is designed to make available in a timely fashion and to a wider readership selected studies prepared by staff in the Secretariat or by outside consultants working on OECD projects. The papers included are of a technical, methodological or statistical policy nature and relate to statistical work relevant to the organisation. The Working Papers are generally available only in their original language - English or French - with a summary in the other.

Joint Working Paper

Measuring Well-being and Progress in Countries at Different Stages of Development: Towards a More Universal Conceptual Framework (with OECD Development Centre)

Measuring and Assessing Job Quality: The OECD Job Quality Framework (with OECD Directorate for Employment, Labour and Social Affairs)

Forecasting GDP during and after the Great Recession: A contest between small-scale bridge and large-scale dynamic factor models (with OECD Economics Directorate)

Decoupling of wages from productivity: Macro-level facts(with OECD Economics Directorate)


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Robert Hill1
Author Affiliations
  • 1: University of Graz, Austria

04 Feb 2011
Bibliographic information

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Every house is different. It is important that house price indexes take account of these quality differences. Hedonic methods which express house prices as a function of a vector of characteristics (such as number of bedrooms and bathrooms, land area and location) are particularly useful for this purpose. In this report I consider some of the developments in the hedonic methodology, as it is applied in a housing context, that have occurred in the last three decades. A number of hedonic house price indexes are now available. However, it is often difficult to see how these indexes relate to each other. For this reason the paper attempts to impose some structure on the literature by developing a taxonomy of hedonic methods, and then show how existing methods fit into this taxonomy. Also discussed are some promising areas for future research in the hedonic field, particularly the use of geospatial data and nonparametric methods for better capturing the impact of location on house prices. The main criticisms of the hedonic approach are evaluated and compared with the repeat sales and stratified median methods. The overall conclusion is that the advantages of the hedonic approach outweigh its disadvantages.
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