D'Agostino, Antonello
[Verfasser:in]
;
McQuinn, Kieran
[Sonstige Person, Familie und Körperschaft];
O'Reilly, Gerard
[Sonstige Person, Familie und Körperschaft]
Identifying and Forecasting House Price Dynamics in Ireland
Anmerkungen:
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments August 21, 2008 erstellt
Beschreibung:
While increased attention has, of late, focussed on models of house prices, few, if any, studies have examined house prices from a purely forecasting perspective. However, the need for accurate and timely forecasts of house prices has grown as the rate of house price inflation is more and more important to policy discussions such as those governing decisions on inflation. This is further underscored with the development of financial markets products based on house price index. In this paper, we propose that a simple univariate moving average (MA) model can provide optimal forecasts of Irish house price inflation when compared with a suite of standard forecasting and structural house price models. This result echoes similiar recent findings for forecasts of US inflation rate