城市住房价格指数编制方法的拓展设计及实证检验

科学监测城市房价走势，在当前环境下尤为重要。为拓展国际通行方法编制国内单一城市房价指数的适用性，引入样本匹配重复交易法构建房价指数，以提高样本容量与可比性。基于上海数据的实证结果表明，相较于传统重复交易法和特征价格法，样本匹配重复交易法能更准确地反映住房价格变动，结果异常波动性更小，噪声影响程度更低，在克服样本代表性误差和变量缺失误差方面效果更显著，对编制国内城市房价指数具有较好应用价值。

An Extension in the Construction of Urban Housing Price Indexes and Its Application

Scientific monitoring of real estate prices in urban areas is essential, especially under current market conditions. In order to apply internationally accepted methodology to the construction of domestic urban housing price index, this paper introduces the matching repeat sales methodology that improves comparability of sample sizes and sample selection. Our empirical results, based on Shanghai housing transaction data, show that the housing price index derived from the matching repeat sales methodology can reflect the housing price fluctuation more accurately compared with traditional repeat sales and hedonic methodologies. Specifically, the matching repeat sales price index has smaller abnormal volatility and less noise. It overcomes sample representative error and omitted variable problem. It can be widely applied to the construction of domestic urban housing price indexes for both new and second-hand homes.