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  1. Rental equivalence, owner-occupied housing and inflation measurement: micro-level evidence from Ireland
    Autor*in: Coffey, Cathal; McQuinn, Kieran; O'Toole, Conor
    Erschienen: November 18, 2020
    Verlag:  ESRI, Dublin

    In this paper, we use unique supervisory property-level rental data to estimate a rental equivalence (RE) measure for owner-occupied housing (OOH) for the Irish housing market. Our data from the official, domestic rental regulator allow us to... mehr

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    In this paper, we use unique supervisory property-level rental data to estimate a rental equivalence (RE) measure for owner-occupied housing (OOH) for the Irish housing market. Our data from the official, domestic rental regulator allow us to simultaneously address three significant issues which have arisen in the empirical application of rental equivalent measures. First, we are able to consider the differences in using data on both new and existing rent levels in the analysis, we can also control for other utility costs and finally we are able to estimate a RE measure in the absence of rent controls. To better approximate the OOH structure of the Irish residential market, we also avail of regional data to estimate 32 separate hedonic rent models and use the results to reweight the RE index. We find that our subsequent estimate of RE results in a reduction in the Irish headline rate of consumer price inflation by 0.4 percentage points. Furthermore, we show there are considerable differences in the inflation rate if new relative to existing rents are used in the rental equivalence measures with measures based purely on existing rents biasing downwards both the rental equivalence measure and the overall consumer price index. This suggests that considerable care is required for policymakers in using rental equivalence methods in the presence of data gaps.

     
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    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Weitere Identifier:
    hdl: 10419/237956
    Schriftenreihe: Working paper / ESRI ; no. 685 (November 2020)
    Umfang: 1 Online-Ressource (circa 31 Seiten), Illustrationen
  2. Exploring the short-run implications of the COVID-19 pandemic on affordability in the Irish private rental market
    Autor*in: O'Toole, Conor; Slaymaker, Rachel; McQuinn, Kieran; Coffey, Cathal; Corrigan, Eoin
    Erschienen: July 28, 2020
    Verlag:  ESRI, Economic & Social Research Institute, Dublin

    The COVID-19 pandemic represents the most severe and rapid shock to the Irish economy in modern times. This paper examines the short-run, three-month impact of the pandemic on rental affordability and missed payments for a specific cohort of the... mehr

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    The COVID-19 pandemic represents the most severe and rapid shock to the Irish economy in modern times. This paper examines the short-run, three-month impact of the pandemic on rental affordability and missed payments for a specific cohort of the private rental sector in Ireland. It focuses on those households which, at the outset of the pandemic, were not in receipt of state rental supports such as the Housing Assistance Payment (HAP) or Rent Supplement (or paying a local authority rent). These households were deemed the most at risk of affordability challenges due to the high level of rents they were paying. In this report we classify such households as non-supported private renters. Unless otherwise stated, any reference to 'households' refers to this group.

     
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    Sprache: Englisch
    Medientyp: Ebook
    Format: Online
    ISBN: 9780707005348
    Weitere Identifier:
    hdl: 10419/230314
    Schriftenreihe: ESRI research series ; number 108
    Schlagworte: Coronavirus; Mietwohnung; Miete; Irland
    Umfang: 1 Online-Ressource (circa 59 Seiten), Illustrationen
  3. Estimating the cost of Irish housing for the CPI: a rental equivalence approach
    Autor*in: Allen-Coghlan, Matthew; Coffey, Cathal; Martinez Cillero, Maria; Kostarakos, Ilias; McQuinn, Kieran; O'Toole, Conor
    Erschienen: September 14, 2020
    Verlag:  ESRI, Dublin

    In this paper, we implement a new measure, the rental equivalence approach, in estimating the cost of Irish housing for the purposes of the consumer price index (CPI). The cost of housing composes both the cost of owner occupier housing (OOH) as well... mehr

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    In this paper, we implement a new measure, the rental equivalence approach, in estimating the cost of Irish housing for the purposes of the consumer price index (CPI). The cost of housing composes both the cost of owner occupier housing (OOH) as well as the cost of renting. This work, which is in conjunction with the Central Statistics Office (CSO), follows earlier work, which reviewed the different, existing approaches taken by the CSO in estimating the cost of housing. The rental equivalence approach - used to calculate the cost of OOH - seeks to isolate the consumption element of owning a home, which is consistent with its usage in the CPI. The proposed approach also benefits from the usage of existing rental indices, which are compiled and estimated by researchers in the Economic and Social Research Institute (ESRI) for the Rental Tenancy Board (RTB).

     
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    Medientyp: Buch (Monographie)
    Format: Online
    Weitere Identifier:
    hdl: 10419/237947
    Schriftenreihe: Working paper / ESRI ; no. 676 (September 2020)
    Umfang: 1 Online-Ressource (circa 31 Seiten), Illustrationen
  4. Rental inflation and stabilisation policies
    international evidence and the Irish experience
    Autor*in: Coffey, Cathal; Hogan, Paul J.; McQuinn, Kieran; O'Toole, Conor; Slaymaker, Rachel
    Erschienen: April 2022
    Verlag:  The Economic and Social Research Institute, Dublin

    This research considers the international evidence on the functioning and deployment of measures similar to the Irish "Rent Pressure Zone" (RPZ) framework introduced in late 2016. It also considers how these measures have worked in Ireland in the... mehr

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    This research considers the international evidence on the functioning and deployment of measures similar to the Irish "Rent Pressure Zone" (RPZ) framework introduced in late 2016. It also considers how these measures have worked in Ireland in the period from their inception until prior to the COVID-19 pandemic in early 2020 when the maximum allowable rent increase was 4 per cent.

     
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    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Weitere Identifier:
    hdl: 10419/268072
    Schriftenreihe: ESRI research series ; number 136
    Schlagworte: Miete; Inflation; Mietenpolitik; Irland; Welt
    Umfang: 1 Online-Ressource (circa 87 Seiten), Illustrationen
  5. The effect of the COVID-19 pandemic on consumption and indirect tax in Ireland
    Autor*in: Coffey, Cathal; Doorley, Karina; O'Toole, Conor; Roantree, Barra
    Erschienen: May 25, 2020
    Verlag:  ESRI, Dublin

    Using micro data from the Central Statistics Office (CSO) Household Budget Survey (HBS), we assess the effect of the COVID-19 pandemic on consumption and its implications for indirect tax receipts in 2020. We show that over one-third of household... mehr

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    Using micro data from the Central Statistics Office (CSO) Household Budget Survey (HBS), we assess the effect of the COVID-19 pandemic on consumption and its implications for indirect tax receipts in 2020. We show that over one-third of household expenditure is on items that are currently restricted due to public health measures such as transport, selected retail expenditure and entertainment items. We parameterise three scenarios which attempt to take into account: 1) a return to a 'new normal' with ongoing physical and social distancing; 2) a 'second wave' lockdown; and 3) rapid vaccine development that allows a return to normal economic and social life by the end of 2020. Under these scenarios, household consumption this year is estimated to be between 12 and 20 per cent lower than what it would have been in the absence of the pandemic. Indirect tax paid by households is estimated to be between 19 and 32 per cent lower than it otherwise would have been.

     
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    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
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    Weitere Identifier:
    hdl: 10419/227619
    Schriftenreihe: Budget perspectives / ESRI ; 2021, paper 3
    Schlagworte: Coronavirus; Privater Konsum; Indirekte Besteuerung; Prognose; Irland
    Umfang: 1 Online-Ressource (circa 40 Seiten), Illustrationen