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      Measuring the Effect of the Real Estate Bubble: a House Price Index for Bilbao 

      Bárcena Ruiz, María Jesús; Menéndez, Patricia; Palacios, María Blanca; Tusell Palmer, Fernando Jorge (2011-11)
      A spatio-temporal model is proposed aimed at producing an index of housing prices. A hedonic model with geographically varying coefficients is coupled with a non parametric estimation of the trend, whence a price index is derived.