The importance of house prices to households, real estate developers, banks and policy-makers cannot be overemphasised. House price changes affect consumer spending and business investment patterns, which in turn affect the wider macro economy and the entire business cycle. Measuring and understanding house prices is therefore essential to a functioning economy, but researchers continue to disagree on the best methodological approach for constructing real estate indices. This book argues the need for more accurate house price indices, outlines the various methods used to construct indices and discusses the existing house price indices around the globe. It shows how the raw data of property transactions can be prepared for the purpose of constructing indices, discusses various applications of property price indices and empirically demonstrates how the index numbers can be used to model the supply of new houses and to estimate the price elasticity of supply. Essential reading for economists, real estate professionals and researchers, and policy-makers.
Mauritania is bordered by Senegal in the south, Mali in the east, Algeria in the far northeast, and the disputed territory of Western Sahara to the north. Comprised mostly of vast stretches of desert, this young country has escaped the ravages of the violent interstate and civil conflicts that have so bedeviled Africa. Mauritanian society possesses ancient antecedents and a universal religious faith that has been practiced over several centuries. These characteristics have given the country a sometimes fragile but relatively resilient sense of national identity, which has survived into the 21st century in the face of powerful political, regional, ethnic/racial, and tribal rivalries since its independence in 1960. An economy largely centered on the export of raw materials, a weak agricultural sector, and a harsh climate in most areas further add to the challenges confronting all Mauritanians. The third edition of the Historical Dictionary of Mauritania_through its chronology, introductory essay, maps, bibliography, and hundreds of cross-referenced dictionary entries on important persons, places, events, institutions, and significant political, economic, social, and cultural aspects_provides an important reference on Mauritania.
The importance of house prices to households, real estate developers, banks and policy-makers cannot be overemphasised. House price changes affect consumer spending and business investment patterns, which in turn affect the wider macro economy and the entire business cycle. Measuring and understanding house prices is therefore essential to a functioning economy, but researchers continue to disagree on the best methodological approach for constructing real estate indices. This book argues the need for more accurate house price indices, outlines the various methods used to construct indices and discusses the existing house price indices around the globe. It shows how the raw data of property transactions can be prepared for the purpose of constructing indices, discusses various applications of property price indices and empirically demonstrates how the index numbers can be used to model the supply of new houses and to estimate the price elasticity of supply. Essential reading for economists, real estate professionals and researchers, and policy-makers.
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