The Application Of Hedonic Methods In Quality Adjusted Price Indices
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The Application Of Hedonic Methods In Quality Adjusted Price Indices
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Author : Anna Król
language : en
Publisher: Wydawnictwo Uniwersytetu Ekonomicznego we Wrocławiu
Release Date : 2020-06-01
The Application Of Hedonic Methods In Quality Adjusted Price Indices written by Anna Król and has been published by Wydawnictwo Uniwersytetu Ekonomicznego we Wrocławiu this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-06-01 with Business & Economics categories.
The measurement of price dynamics is by no means new endeavourin the official statistics but the process of establishing accurate price changes in time still remains challenging in many areas. One such demanding field is the application of appropriate techniques in price index development for providing amendments reflecting quality differences which might occur in the compared commodities. The book presents results of research on the applicability of hedonic methods in adjusting price indices to changes in the goods quality and test the techniques used for hedonic price indices construction using the data sets for various groups of heterogeneous goods, including used automobiles, appartments, household appliances and ICT goods.
Handbook On Hedonic Indexes And Quality Adjustments In Price Indexes Special Application To Information Technology Products
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Author : Triplett Jack
language : en
Publisher: OECD Publishing
Release Date : 2006-09-21
Handbook On Hedonic Indexes And Quality Adjustments In Price Indexes Special Application To Information Technology Products written by Triplett Jack and has been published by OECD Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006-09-21 with categories.
Price indexes can be constructed using a “hedonic method” that adjusts for changes in the quality of a product. This handbook sets out best practice for constructing hedonic indexes.
Handbook On Hedonic Indexes And Quality Adjustments In Price Indexes
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Author :
language : en
Publisher:
Release Date : 2004
Handbook On Hedonic Indexes And Quality Adjustments In Price Indexes written by 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.
Using Hedonic Methods For Quality Adjustment In The Cpi
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Author : Mary Kokoski
language : en
Publisher: CreateSpace
Release Date : 2013-07-31
Using Hedonic Methods For Quality Adjustment In The Cpi written by Mary Kokoski and has been published by CreateSpace this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-07-31 with Reference categories.
There has been strong recommendation that the BLS explore the use of hedonic methods forquality adjustment in the Consumer Price Index (CPI) for decades. The Price Statistics ReviewCommittee (the Stigler Commission Report) in 1961 expressed the view that hedonic analysis would provide a “more objective” approach to addressing quality change than the BLS standard methods of dealing with this issue (Triplett (1990)). More recently, the Advisory Commission to Study theConsumer Price Index (the Boskin Commission Report, 1996) reiterated this recommendation,recognizing that accurate measures of quality change will enable a more accurate measure of pure price,or “cost-of-living” change. Categories of goods and services where quality changes are frequent andrelatively easy to identify are the best candidates for using hedonic methods, given that data can beacquired.
Quality Adjusted Prices
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Author : Olympia Bover
language : en
Publisher:
Release Date : 2001
Quality Adjusted Prices written by Olympia Bover and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001 with Inflation (Finance) categories.
Quality Adjustment At Scale
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Author : Gabriel Ehrlich
language : en
Publisher:
Release Date : 2023
Quality Adjustment At Scale written by Gabriel Ehrlich and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023 with categories.
This paper explores alternative methods for adjusting price indices for quality change at scale. These methods can be applied to large-scale item-level transactions data that includes information on prices, quantities, and item attributes. The hedonic methods can take into account the changing valuations of both observable and unobservable characteristics in the presence of product turnover. The paper also considers demand-based approaches that take into account changing product quality from product turnover and changing appeal of continuing products. The paper provides evidence of substantial quality-adjustment in prices for a wide range of goods, including both high-tech consumer products and food products.
How To Better Measure Hedonic Residential Property Price Indexes
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Author : Mick Silver
language : en
Publisher: International Monetary Fund
Release Date : 2016-11-16
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 2016-11-16 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.
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 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.
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.