caa a22 4500 477129897 CHVBK 20180405111701.0 cr unu---uuuuu 170330e19970101xx s 000 0 eng 10.1023/A:1007732320832 doi (NATIONALLICENCE)springer-10.1023/A:1007732320832 Geltner David Department of Finance, College of Business Administration, University of Cincinnati, P. O. Box 210195, 45221-0195, Cincinnati, OH aut Bias and Precision of Estimates of Housing Investment Risk Based on Repeat-Sales Indices:A Simulation Analysis [Elektronische Daten] [David Geltner] A simulation analysis is reported which examines the bias and precision of estimates of housing investment risk based on small sample indices of housing returns. The trade-off between smoothing bias (due to temporal aggregation in the index) and noise bias (induced by random estimation error) is examined in the housing return total volatility, beta, and autocorrelation statistics of the index returns. The study compares the performance of three different specifications of the repeat-sales index, under assumptions of either an informationally efficient or inefficient housing market, and at two levels of estimation data availability. Findings suggest that regression-based repeated-measures indices may be useful at a more micro-level (e.g., at the neighborhood level or for specific housing types) than has hitherto been employed. Kluwer Academic Publishers, 1997 housing investment nationallicence repeat-sales indices nationallicence risk and return nationallicence The Journal of Real Estate Finance and Economics Kluwer Academic Publishers 14/1-2(1997-01-01), 155-171 0895-5638 14:1-2<155 1997 14 11146 https://doi.org/10.1023/A:1007732320832 text/html Onlinezugriff via DOI 1 research-article jats NATIONALLICENCE 856 40 https://doi.org/10.1023/A:1007732320832 text/html Onlinezugriff via DOI NATIONALLICENCE 100 1- Geltner David Department of Finance, College of Business Administration, University of Cincinnati, P. O. Box 210195, 45221-0195, Cincinnati, OH aut NATIONALLICENCE 773 0- The Journal of Real Estate Finance and Economics Kluwer Academic Publishers 14/1-2(1997-01-01), 155-171 0895-5638 14:1-2<155 1997 14 11146 Metadata rights reserved Springer special CC-BY-NC licence nationallicence BK010053 XK010053 XK010000 NATIONALLICENCE NATIONALLICENCE NL-springer