Hedonic Imputation Versus Time Dummy Hedonic Indexes
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Hedonic Imputation Versus Time Dummy Hedonic Indexes
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Author : Mick Silver
language : en
Publisher: International Monetary Fund
Release Date : 2007-10-01
Hedonic Imputation Versus Time Dummy Hedonic Indexes written by Mick Silver and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007-10-01 with Business & Economics categories.
Statistical offices try to match item models when measuring inflation between two periods. However, for product areas with a high turnover of differentiated models, the use of hedonic indexes is more appropriate since they include unmatched new and old models. There are two main competing approaches to hedonic indexes are hedonic imputation (HI) indexes and dummy time hedonic (HD) indexes. This study provides a formal analysis of exactly why the results from the two approaches may differ and discusses the issue of choice between these approaches. An illustrative study for desktop PCs is provided.
The Difference Between Hedonic Imputation Indexes And Time Dummy Hedonic Indexes
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Author : Mick Silver
language : en
Publisher: International Monetary Fund
Release Date : 2006-07
The Difference Between Hedonic Imputation Indexes And Time Dummy Hedonic Indexes written by Mick Silver and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006-07 with Business & Economics categories.
Statistical offices try to match item models when measuring inflation between two periods. For product areas with a high turnover of differentiated models, however, the use of hedonic indexes is more appropriate since they include the prices and quantities of unmatched new and old models. The two main approaches to hedonic indexes are hedonic imputation (HI) indexes and dummy time hedonic (DTH) indexes. This study provides a formal analysis of the difference between the two approaches for alternative implementations of the Törnqvist "superlative" index. It shows why the results may differ and discusses the issue of choice between these approaches.
The Difference Between Hedonic Imputation And Time Dummy Hedonic Indexes For Desktop Pcs
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Author : M. Silver
language : en
Publisher:
Release Date : 2004
The Difference Between Hedonic Imputation And Time Dummy Hedonic Indexes For Desktop Pcs written by M. Silver and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with categories.
How To Better Measure Hedonic Residential Property Price Indexes
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Author : Mick Silver
language : en
Publisher: International Monetary Fund
Release Date : 2016-11-08
How To Better Measure Hedonic Residential Property Price Indexes written by Mick Silver and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-11-08 with Business & Economics categories.
Hedonic regressions are used for property price index measurement to control for changes in the quality-mix of properties transacted. The paper consolidates the hedonic time dummy approach, characteristics approach, and imputation approaches. A practical hedonic methodology is proposed that (i) is weighted at a basic level; (ii) has a new (quasi-) superlative form and thus mitigates substitution bias; (iii) is suitable for sparse data in thin markets; and (iv) only requires the periodic estimation of hedonic regressions for reference periods and is not subject to the vagrancies of misspecification and estimation issues.
Handbook On Hedonic Indexes And Quality Adjustments In Price Indexes
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Author : Jack E. Triplett
language : en
Publisher: OECD
Release Date : 2006-10-05
Handbook On Hedonic Indexes And Quality Adjustments In Price Indexes written by Jack E. Triplett and has been published by OECD this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006-10-05 with Business & Economics categories.
This handbook compares and contrasts two methods employed in price indexes to adjust for quality change: conventional quality adjustment methods and hedonic price indexes. The latter are often used in price indexes for information and communication technology (ICT) products in several OECD countries, as well as for measuring prices for some other goods and services, notably housing. The handbook aims to contribute to a better understanding of the merits and shortcomings of these methods, and to provide an analytic basis for choosing among them.
A Practical Guide To Price Index And Hedonic Techniques
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Author : Ana M. Aizcorbe
language : en
Publisher: OUP Oxford
Release Date : 2014-06-12
A Practical Guide To Price Index And Hedonic Techniques written by Ana M. Aizcorbe and has been published by OUP Oxford this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-06-12 with Business & Economics categories.
This book provides an accessible guide to price index and hedonic techniques, with a focus on how to best apply these techniques and interpret the resulting measures. One goal of this book is to provide first-hand experience at constructing these measures, with guidance on practical issues such as what the ideal data would look like and how best to construct these measures when the data are less than ideal. A related objective is to fill the wide gulf between the necessarily simplistic elementary treatments in textbooks and the very complex discussions found in the theoretical and empirical measurement literature. Here, the theoretical results are summarized in an intuitive way and their numerical importance is illustrated using data and results from existing studies. Finally, while the aim of much of the existing literature is to better understand official price indexes like the Consumer Price Index, the emphasis here is more practical: to provide the needed tools for individuals to apply these techniques on their own. As new datasets become increasingly accessible, tools like these will be needed to obtain summary price measures. Indeed, these techniques have been applied for years in antitrust cases that involve pricing, where economic experts typically have access to large, granular datasets.
Index Number Theory And Price Statistics
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Author : Peter M von der Lippe
language : en
Publisher: Walter de Gruyter GmbH & Co KG
Release Date : 2016-11-21
Index Number Theory And Price Statistics written by Peter M von der Lippe and has been published by Walter de Gruyter GmbH & Co KG this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-11-21 with Business & Economics categories.
Price Index Concepts And Measurement
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Author : W. Erwin Diewert
language : en
Publisher: University of Chicago Press
Release Date : 2010-02-15
Price Index Concepts And Measurement written by W. Erwin Diewert and has been published by University of Chicago Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-02-15 with Business & Economics categories.
Although inflation is much feared for its negative effects on the economy, how to measure it is a matter of considerable debate that has important implications for interest rates, monetary supply, and investment and spending decisions. Underlying many of these issues is the concept of the Cost-of-Living Index (COLI) and its controversial role as the methodological foundation for the Consumer Price Index (CPI). Price Index Concepts and Measurements brings together leading experts to address the many questions involved in conceptualizing and measuring inflation. They evaluate the accuracy of COLI, a Cost-of-Goods Index, and a variety of other methodological frameworks as the bases for consumer price construction.
The Hedonic Country Product Dummy Method And Quality Adjustments For Purchasing Power Parity Calculations
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Author : Mick Silver
language : en
Publisher: International Monetary Fund
Release Date : 2009-12-01
The Hedonic Country Product Dummy Method And Quality Adjustments For Purchasing Power Parity Calculations written by Mick Silver and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-12-01 with Business & Economics categories.
The 2005 International Comparison Program's (ICP) estimates of economy-wide purchasing power parity (PPP) are based on parity estimates for 155 basic expenditure headings, mainly estimated using country product dummy (CPD) regressions. The estimates are potentially inefficient and open to omitted variable bias for two reasons. First, they use average prices across outlets as the left-hand-side variable. Second, quality-adjusted prices of non-comparable replacements, required when products in outlets do not match the required specifications, cannot be effectively included. This paper provides an analytical framework based on panel data and hedonic CPD regressions for ameliorating these sources of bias and inefficiency.
Export And Import Price Index Manual Theory And Practice
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Author : OECD
language : en
Publisher: OECD Publishing
Release Date : 2010-04-06
Export And Import Price Index Manual Theory And Practice written by OECD and has been published by OECD Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-04-06 with categories.
A joint production by six international organizations, this manual explores the conceptual and theoretical issues that national statistical offices should consider in the daily compilation of export and import price indices. Intended for use by both ...