Housing Rents and Inflation Rates

Brent W. Ambrose; N. Edward Coulson; Jiro Yoshida

doi:10.1111/jmcb.12971

Housing Rents and Inflation Rates

Brent W. Ambrose, N. Edward Coulson, Jiro Yoshida

Risk Management

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1 Scopus citations

Abstract

This paper develops a quality-adjusted measure of marginal housing rents using a monthly statistic of landlord net rental income. The marginal rent index (MRI) exhibits deflation during recessions and leads the official rent index by 7 months. The modified inflation rate based on MRI suggests that the annual official inflation rate was overestimated by 1.7–4.1% during the Great Recession but underestimated by 0.3–0.7% during the subsequent expansionary period.

Original language	English (US)
Pages (from-to)	975-992
Number of pages	18
Journal	Journal of Money, Credit and Banking
Volume	55
Issue number	4
DOIs	https://doi.org/10.1111/jmcb.12971
State	Published - Jun 2023

All Science Journal Classification (ASJC) codes

Accounting
Finance
Economics and Econometrics

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10.1111/jmcb.12971

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abstract = "This paper develops a quality-adjusted measure of marginal housing rents using a monthly statistic of landlord net rental income. The marginal rent index (MRI) exhibits deflation during recessions and leads the official rent index by 7 months. The modified inflation rate based on MRI suggests that the annual official inflation rate was overestimated by 1.7–4.1% during the Great Recession but underestimated by 0.3–0.7% during the subsequent expansionary period.",

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Housing Rents and Inflation Rates

Abstract

All Science Journal Classification (ASJC) codes

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