Cross-validation of quality-adjustment methods for price indexes
نویسندگان
چکیده
منابع مشابه
Constructing quality adjusted price indexes: a comparison of hedonic and discrete choice methods¤
In 1996 the Boskin report (1996) discussed several types of measurement errors in the consumer price index (CPI). The CPI measures the cost of purchasing a ...xed market basket of goods and services. All the goods and services in this basket can be divided over classi...cation levels beginning with major groups like food and beverages, housing, transportation, etc. The CPI calculates the monthl...
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15 صفحه اولEstimating Dynamic Price Indexes
Price indexes are summary statistics meant to convey a comparison of prices at one time (or place) to another. The raw ingredients from which a standard price index is constructed are the ratios of the price of an item at one time period to the price of the same item at another. Goods which disappear after the initial time period, or first appear in the second, thwart constructing these ratios....
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We derive a measure of firm speed of price adjustment that is directly inversely related to market power and compare this to the measure derived by Martin (1993). However, both measures are incorrect when firms have non-zero price conjectural variations and treat competing price levels as exogenous. This is because Taylor series expansions of the demand function implicitly assume that firms inf...
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ژورنال
عنوان ژورنال: Monthly Labor Review
سال: 2018
ISSN: 1937-4658
DOI: 10.21916/mlr.2018.18