Depreciation of Housing: An Empirical Consideration of the Filtering Hypothesis
This paper presents estimates of depreciation rates for housing which are appropriate to consideration of the filtering hypothesis (houses ''filter down'' from higher to lower quality). Housing is treated as a single composite commodity, and a depreciation rate is specified which...
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| Veröffentlicht in: | The review of economics and statistics 1982-02, Vol.64 (1), p.90-96 |
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| container_title | The review of economics and statistics |
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| creator | Margolis, Stephen E. |
| description | This paper presents estimates of depreciation rates for housing which are appropriate to consideration of the filtering hypothesis (houses ''filter down'' from higher to lower quality). Housing is treated as a single composite commodity, and a depreciation rate is specified which is the net depreciation rate for individual occupied rental units. The primary source of data is the Panel Study of Income Dynamics by the University of Michigan's Institute for Social Research. The point estimate for net depreciation is 0.39%, which suggests that the encountered effects of time per se are not a major factor in determining conditions in cities. The 95% confidence interval admits values which are consistent with filtering or which contradict filtering, so the only statement that can be made applying the usual standards of statistical significance is that the data used here provide no support for the hypothesis that dwellings deliver diminishing quantities of housing service with the passage of time. The results call into question assumptions giving rise to the filtering model. |
| doi_str_mv | 10.2307/1937947 |
| format | Article |
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Housing is treated as a single composite commodity, and a depreciation rate is specified which is the net depreciation rate for individual occupied rental units. The primary source of data is the Panel Study of Income Dynamics by the University of Michigan's Institute for Social Research. The point estimate for net depreciation is 0.39%, which suggests that the encountered effects of time per se are not a major factor in determining conditions in cities. The 95% confidence interval admits values which are consistent with filtering or which contradict filtering, so the only statement that can be made applying the usual standards of statistical significance is that the data used here provide no support for the hypothesis that dwellings deliver diminishing quantities of housing service with the passage of time. The results call into question assumptions giving rise to the filtering model.</description><identifier>ISSN: 0034-6535</identifier><identifier>EISSN: 1530-9142</identifier><identifier>DOI: 10.2307/1937947</identifier><identifier>CODEN: RECSA9</identifier><language>eng</language><publisher>Cambridge, Mass: North-Holland Publishing Company</publisher><subject>Coefficients ; Cohort studies ; Depreciation ; Depreciation rates ; Dwellings ; Estimates ; Household budgets ; Housing ; Hypotheses ; Regression analysis ; Time series ; Urban economics ; Variable coefficients</subject><ispartof>The review of economics and statistics, 1982-02, Vol.64 (1), p.90-96</ispartof><rights>Copyright 1982 The President and Fellows of Harvard College</rights><rights>Copyright MIT Press Journals Feb 1982</rights><lds50>peer_reviewed</lds50><woscitedreferencessubscribed>false</woscitedreferencessubscribed><citedby>FETCH-LOGICAL-c338t-c23d4727a4ff7f682a1b1dbb11aa69ba6a0f511eaaf760d3f6950a23f320b593</citedby></display><links><openurl>$$Topenurl_article</openurl><openurlfulltext>$$Topenurlfull_article</openurlfulltext><thumbnail>$$Tsyndetics_thumb_exl</thumbnail><linktopdf>$$Uhttps://www.jstor.org/stable/pdf/1937947$$EPDF$$P50$$Gjstor$$H</linktopdf><linktohtml>$$Uhttps://www.jstor.org/stable/1937947$$EHTML$$P50$$Gjstor$$H</linktohtml><link.rule.ids>314,776,780,799,828,27848,27903,27904,57996,58000,58229,58233</link.rule.ids></links><search><creatorcontrib>Margolis, Stephen E.</creatorcontrib><title>Depreciation of Housing: An Empirical Consideration of the Filtering Hypothesis</title><title>The review of economics and statistics</title><description>This paper presents estimates of depreciation rates for housing which are appropriate to consideration of the filtering hypothesis (houses ''filter down'' from higher to lower quality). Housing is treated as a single composite commodity, and a depreciation rate is specified which is the net depreciation rate for individual occupied rental units. The primary source of data is the Panel Study of Income Dynamics by the University of Michigan's Institute for Social Research. The point estimate for net depreciation is 0.39%, which suggests that the encountered effects of time per se are not a major factor in determining conditions in cities. The 95% confidence interval admits values which are consistent with filtering or which contradict filtering, so the only statement that can be made applying the usual standards of statistical significance is that the data used here provide no support for the hypothesis that dwellings deliver diminishing quantities of housing service with the passage of time. The results call into question assumptions giving rise to the filtering model.</description><subject>Coefficients</subject><subject>Cohort studies</subject><subject>Depreciation</subject><subject>Depreciation rates</subject><subject>Dwellings</subject><subject>Estimates</subject><subject>Household budgets</subject><subject>Housing</subject><subject>Hypotheses</subject><subject>Regression analysis</subject><subject>Time series</subject><subject>Urban economics</subject><subject>Variable coefficients</subject><issn>0034-6535</issn><issn>1530-9142</issn><fulltext>true</fulltext><rsrctype>article</rsrctype><creationdate>1982</creationdate><recordtype>article</recordtype><sourceid>K30</sourceid><recordid>eNp10MFLwzAUBvAgCs4p_gtBBU_V9_LapvE25uaEwS67l7RNNGNratId9t9b2fC20wcfP96Dj7F7hBdBIF9RkVSpvGAjzAgSham4ZCMASpM8o-ya3cS4AQCUSCO2ejddMLXTvfMt95Yv_D669uuNT1o-23UuuFpv-dS30TUm_LP-2_C52_YmDJgvDp0fmujiLbuyehvN3SnHbD2fraeLZLn6-JxOlklNVPRJLahJpZA6tVbavBAaK2yqClHrXFU612AzRKO1lTk0ZHOVgRZkSUCVKRqzh-PZLvifvYl9ufH70A4fS1RpLhUVMKDHs0goKIQsCAf1fFR18DEGY8suuJ0OhxKh_Fu0PC06yKej3MTeh7PsF3GKcfs</recordid><startdate>19820201</startdate><enddate>19820201</enddate><creator>Margolis, Stephen E.</creator><general>North-Holland Publishing Company</general><general>Harvard University Press, etc</general><general>MIT Press Journals, The</general><scope>AAYXX</scope><scope>CITATION</scope><scope>EOLOZ</scope><scope>FKUCP</scope><scope>IOIBA</scope><scope>K30</scope><scope>PAAUG</scope><scope>PAWHS</scope><scope>PAWZZ</scope><scope>PAXOH</scope><scope>PBHAV</scope><scope>PBQSW</scope><scope>PBYQZ</scope><scope>PCIWU</scope><scope>PCMID</scope><scope>PCZJX</scope><scope>PDGRG</scope><scope>PDWWI</scope><scope>PETMR</scope><scope>PFVGT</scope><scope>PGXDX</scope><scope>PIHIL</scope><scope>PISVA</scope><scope>PJCTQ</scope><scope>PJTMS</scope><scope>PLCHJ</scope><scope>PMHAD</scope><scope>PNQDJ</scope><scope>POUND</scope><scope>PPLAD</scope><scope>PQAPC</scope><scope>PQCAN</scope><scope>PQCMW</scope><scope>PQEME</scope><scope>PQHKH</scope><scope>PQMID</scope><scope>PQNCT</scope><scope>PQNET</scope><scope>PQSCT</scope><scope>PQSET</scope><scope>PSVJG</scope><scope>PVMQY</scope><scope>PZGFC</scope><scope>8BJ</scope><scope>FQK</scope><scope>JBE</scope></search><sort><creationdate>19820201</creationdate><title>Depreciation of Housing: An Empirical Consideration of the Filtering Hypothesis</title><author>Margolis, Stephen E.</author></sort><facets><frbrtype>5</frbrtype><frbrgroupid>cdi_FETCH-LOGICAL-c338t-c23d4727a4ff7f682a1b1dbb11aa69ba6a0f511eaaf760d3f6950a23f320b593</frbrgroupid><rsrctype>articles</rsrctype><prefilter>articles</prefilter><language>eng</language><creationdate>1982</creationdate><topic>Coefficients</topic><topic>Cohort studies</topic><topic>Depreciation</topic><topic>Depreciation rates</topic><topic>Dwellings</topic><topic>Estimates</topic><topic>Household budgets</topic><topic>Housing</topic><topic>Hypotheses</topic><topic>Regression analysis</topic><topic>Time series</topic><topic>Urban economics</topic><topic>Variable coefficients</topic><toplevel>peer_reviewed</toplevel><toplevel>online_resources</toplevel><creatorcontrib>Margolis, Stephen E.</creatorcontrib><collection>CrossRef</collection><collection>Periodicals Index Online Segment 01</collection><collection>Periodicals Index Online Segment 04</collection><collection>Periodicals Index Online Segment 29</collection><collection>Periodicals Index Online</collection><collection>Primary Sources Access—Foundation Edition (Plan E) - 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Housing is treated as a single composite commodity, and a depreciation rate is specified which is the net depreciation rate for individual occupied rental units. The primary source of data is the Panel Study of Income Dynamics by the University of Michigan's Institute for Social Research. The point estimate for net depreciation is 0.39%, which suggests that the encountered effects of time per se are not a major factor in determining conditions in cities. The 95% confidence interval admits values which are consistent with filtering or which contradict filtering, so the only statement that can be made applying the usual standards of statistical significance is that the data used here provide no support for the hypothesis that dwellings deliver diminishing quantities of housing service with the passage of time. The results call into question assumptions giving rise to the filtering model.</abstract><cop>Cambridge, Mass</cop><pub>North-Holland Publishing Company</pub><doi>10.2307/1937947</doi><tpages>7</tpages></addata></record> |
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| language | eng |
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| source | Business Source Complete; Periodicals Index Online; Jstor Complete Legacy; JSTOR |
| subjects | Coefficients Cohort studies Depreciation Depreciation rates Dwellings Estimates Household budgets Housing Hypotheses Regression analysis Time series Urban economics Variable coefficients |
| title | Depreciation of Housing: An Empirical Consideration of the Filtering Hypothesis |
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