Should the ECB Incorporate Home Values into its Target Price Index? The Challenge of Cross-Country Heterogeneity

Description

These are the data for the paper "Should the ECB Incorporate Home Values into its Target Price Index? The Challenge of Cross-Country Heterogeneity". There are two files-1. euroquarterly.xls. This includes the quarterly data for both the HICP and house prices. The hicp was first obtained as a monthly dataset from the Eurostat database but it was converted to quarterly using the average of the three monthly values in each quarter. House prices were obtained from the Dallas Federal Reserve international house price index at a quarterly frequency at https://www.dallasfed.org/research/international/houseprice The house price series are denoted by having “hp” at the end of each variable name-i.e “belghp” is Belgian house prices, and the HICP data is denoted by having “cp” at the end of each variable name, i.e. “belgcp” is the HICP index for Belgium. The second file, “eurodeviations” shows 4-quarter inflation rates, i,e, belghpinf, belgcpinf, and the deviations of house prices from the 8-country mean in each quarter, and the same for the HICP index.

Institutions

• Wichita State University

  Kansas, Wichita

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