Balcazar, Carlos FelipeCeriani, LidiaOlivieri, SergioRanzani, Marco2014-12-032014-12-032014-11https://hdl.handle.net/10986/20613As well acknowledged in the literature, housing is often the dominant consumption good for most households. As such, it should be included in a comprehensive welfare aggregate to measure people's living standards accurately. However, assigning a value to the flow of the dwelling for homeowners and nonmarket tenants is problematic. Over the last decades several estimation techniques have been proposed and implemented by practitioners covering from very simple to sophisticated approaches. This paper provides an extensive review of different methods to impute rent, commonly used for welfare analysis. It also gives an overview of how this problem has been addressed by other economic domains, namely national accounts, price indices, purchasing power parities, and taxation. Finally, after setting up a theoretical framework, the paper summarizes the empirical findings about the distributional impact of including imputed rents in welfare aggregates.en-USCC BY 3.0 IGOABSOLUTE POVERTYABSOLUTE POVERTY LINEAGRICULTUREAPARTMENTSBASKET OF GOODSBENCHMARKBONDSCASH FLOWCHANGES IN POVERTYCITIESCONSUMER PRICE INDEXCONSUMER PRICE INDICESCONSUMER PRICESCONSUMPTION AGGREGATECONSUMPTION EXPENDITURECONSUMPTION EXPENDITURESCONSUMPTION INCREASESCONSUMPTION MEASURECOST OF HOUSINGCRIMEDESCRIPTIONDEVELOPMENT POLICYDISPOSABLE INCOMEDISTRICTSDURABLE GOODSDWELLINGDWELLING COSTSDWELLINGSECONOMETRIC MODELSECONOMETRICSECONOMIC COOPERATIONECONOMIC SECTORSECONOMIC STATISTICSECONOMIC THEORYELASTICITYEQUALITYEXCHANGE RATESFAMILY MEMBERSFINANCIAL CRISISFOOD CONSUMPTIONFOOD POVERTYFOOD POVERTY LINEFOOD PRICESFUNCTIONAL FORMSGDPGDP PER CAPITAGROSS VALUEHOME OWNERHOME OWNERSHOME OWNERSHIPHOMEOWNERSHOMESHOSPITALSHOUSE PRICESHOUSEHOLD BUDGETHOUSEHOLD COMPOSITIONHOUSEHOLD INCOMEHOUSEHOLD SURVEYHOUSEHOLD SURVEYSHOUSEHOLDSHOUSESHOUSINGHOUSING COSTSHOUSING ECONOMICSHOUSING MARKETHOUSING MARKETSIMPACT ON POVERTYINCOMEINCOME DISTRIBUTIONINCOME INEQUALITYINEQUALITYINEQUALITY MEASURESINFLATIONINFLATION RATEINHABITANTSINSURANCEINTERNATIONAL POVERTY COMPARISONSLIVING CONDITIONLIVING CONDITIONSLIVING STANDARDSMEASUREMENT OF POVERTYMONETARY POLICYMORTGAGESNEIGHBORHOODNEIGHBORHOODSNOMINAL INTEREST RATEOCCUPATIONOPPORTUNITY COSTOPPORTUNITY COSTSPER CAPITA CONSUMPTIONPOLITICAL ECONOMYPOORPOOR INDIVIDUALSPOPULATION GROUPSPOVERTY ESTIMATESPOVERTY INDICESPOVERTY LEVELPOVERTY LEVELSPOVERTY LINEPOVERTY LINESPOVERTY MEASURESPOVERTY RATEPOVERTY STATUSPOVERTY THRESHOLDPRICE INDEXESPRICE LEVELSPROPERTY TAXESPROPERTY VALUESPURCHASING POWERQUALITY OF LIFEREAL INTEREST RATEREDUCTION IN POVERTYREGIONAL SCIENCERENTAL SERVICESRENTALSRENTINGRENTSRURALRURAL AREASSAVINGSSETTLEMENTSHELTERSPATIAL DEPENDENCESPATIAL DISTRIBUTIONSPATIAL PATTERNSTAXATIONTOTAL POVERTYTOTAL POVERTY LINETRAFFICURBAN AREASUTILITY FUNCTIONWEALTHWELFARE DISTRIBUTIONWELFARE MEASUREWELFARE MEASURES10.1596/1813-9450-7103