case, both the marginal value of characteristics and a fixed-weight price index can be estimated from a hedonic regression …. Using the marginal value of characteristics, we show how to construct bounds on the exact hedonic price index. When prices …

Researchers constructing index number frequently face the problem of new (or disappearing) goods, for which the price … that the corresponding price index takes on a very sensible form. We apply this formula to measure the price index for six … incorporating the new supplying countries, the price index for developing countries is significantly lower than would otherwise be …

In this paper we derive the standard error of a price index when both prices and tastes or technology are treated as … stochastic. Changing tastes or technology are a reason for the weights in the price index to be treated as stochastic, which can … function (with Sato-Vartia price index), and also the translog function (with Törnqvist price index), which proves to be more …

We view the political process in China as trading off the social benefits of increased trade and foreign direct … of this model are estimated using province-level data on foreign direct investment and trade flows in China, over the … China may find it politically difficult to follow through with liberalizing its trade and investment regimes, such as under …