Housing Rents and Inflation Rates

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

Research output: Contribution to journalArticlepeer-review

1 Scopus citations


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 languageEnglish (US)
Pages (from-to)975-992
Number of pages18
JournalJournal of Money, Credit and Banking
Issue number4
StatePublished - Jun 2023

All Science Journal Classification (ASJC) codes

  • Accounting
  • Finance
  • Economics and Econometrics


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