التفاصيل البيبلوغرافية
| العنوان: |
Does the Zillow rent measure help predict CPI rent inflation?: Does the Zillow rent measure...: N. K. Kishor. |
| المؤلفون: |
Kishor, N. Kundan1 (AUTHOR) kishor@uwm.edu |
| المصدر: |
Business Economics. Oct2024, Vol. 59 Issue 4, p220-226. 7p. |
| مصطلحات موضوعية: |
*INFLATION forecasting, *COVID-19 pandemic, *VALUE (Economics), *ECONOMETRICS, FLIP-flops (Sandals) |
| مستخلص: |
This paper examines the usefulness of the Zillow observed rent index (ZORI) in predicting CPI rent inflation. Using data from February 2015 to October 2023, we demonstrate that ZORI provides valuable insights into future movements in CPI rent inflation. However, its effectiveness is limited to periods when there is a significant disparity between these two rent series. By employing the Giacominiand and Rossi (2010) forecast fluctuations test, we find that, before the pandemic, there was no statistically significant difference between models that incorporated Zillow rent inflation and those that did not. However, starting in June 2020, models incorporating Zillow rent inflation began to outperform forecasting models without it in predicting CPI rent inflation. This performance advantage coincides with the two-year post-pandemic period when Zillow rent inflation significantly diverged from CPI rent inflation. The unique economic conditions following the COVID-19 pandemic highlight the potential value of ZORI in such periods, but caution is needed in generalizing these results to other periods. [ABSTRACT FROM AUTHOR] |
|
Copyright of Business Economics is the property of Palgrave Macmillan Ltd. and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.) |
| قاعدة البيانات: |
Business Source Index |