ANNEX II

REVIEW OF MACROECONOMIC AND MICROECONOMIC DATA

IN POLAND AND GMINA STUDIES OF HOUSING DEMAND

1.0

INTRODUCTION

An estimate of effective demand for housing and residential credit requires

statistical data for housing, income, of various household characteristics, investment in

housing, maintenance costs, mortgage loans, interest rates, the relative costs of other

goods, and so forth.

This paper reviews the data available in Poland compared to data requirements for

microeconomic and macroeconomic studies of demand for housing and residential credit

as set out in Annex I.

The review is divided into sections on macroeconomic data, microeconomic data,

data provided by the government and the HRI, and household data collected by gminas.

2.0

REVIEW OF MACROECONOMIC DATA

As noted in Annex I, macro modeling of effective housing demand requires data on:

  The housing stock;

  The factors which determine the demand for housing; and

  The factors which might determine the speed of adjustment of actual to desired

demand.

In order to estimate these factors, consistent time series data of national accounts

are required, including investment in housing, depreciation of the existing stock,

institutional changes of ownership, new housing development, the income distribution, and

current additions to the housing stock. What data on housing are available and how

reliable are they for statistical demand analysis regressions?

2.1

Supply Data

The main source of national accounts data is the Statistical Yearbook. It includes

data on both the demand and supply sides of the economy. Currently, the national

accounts are published according to standards of the System of National Accounts of

1993. Supply side data are published annually and as yet quarterly data on housing