A Flexible Fourier Approach to Repeat Sales Price Indexes
提出一种灵活傅里叶展开方法，将时间视为连续变量，有效估计重复销售价格指数，尤其适用于交易稀少时期，并以芝加哥地区为例展示应用。
Time periods are typically highly aggregated for repeat sales estimators because of the small number of observations available in some periods. We use a flexible Fourier expansion to account for time, which we treat as a continuous variable. Our estimator saves degrees of freedom and enables us to estimate the price index efficiently even for times with few sales. We present estimated price indexes for the City of Chicago, Cook County, and several suburbs.