From the Editor

John B. Taylor - The Explanatory Power of Monetary Policy Rules

Carl R. Tannenbaum - The Incredible Shrinking Banking Industry

James A. Wilcox - Forecasting Components of Consumption with Components of Consumer Sentiment

Jeremy A. Leonard and Cliff Waldman - An Empirical Model of the Sources of Innovation in the U.S. Manufacturing Sector

Barbara Sawtelle - Analyzing the Link Between Real GDP and Employment: An Industry Sector Approach

Jordan Rappaport - Comparing Aggregate Housing Price Measures

Anand Mehta and Andrew C. Gross - The Global Market for Agricultural Machinery and Equipment

Book Reviews

Comparing Aggregate Housing Price Measures

By Jordan Rappaport

Jordan Rappaport is a senior economist in the Research Department of the Federal Reserve Bank of Kansas City

To better understand what drives housing prices, we need better measures of aggregate prices. This article looks at three methodologies for doing so.

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JEL Category: C82, R31