widely used techniques: (a) index numbers, (b) data envelopment analysis, and three parametric methods, (c) instrumental …

relevant relative prices for a consumer who lives for many periods. The paper proposes a dynamic price index (DPI) that solves …

productivity growth. The two major methods used in measuring productivity growth -- index number and econometric estimation …

difficult, involving two types of problems. Commonly used indices, such as the Consumer Price Index (CPI), contain both …

living. This paper develops a framework for studying measurement problems in the consumer price index and systematically …A number of analysts have claimed recently that the consumer price index overstates the annual increase in the cost of … show how better to measure medical care prices, the paper presents a prototypical price index for cataract surgery. This …

quality change) in the construction of price indices and, by extension, in the measurement of economic performance. The … staggering 55% per year (on average) over the first decade of the technology. By contrast, an hedonic-based index captures just a … small fraction of the decline, and a simple (unadjusted) price index shows a substantial price increase over the same period …

is based. The most popularly used aggregate price statistic in the U.S. is the Consumer Price Index (CPI), a statistic … index of the cost-of-living, is that there are likely to be biases in the index as a measure of inflation. In this paper we … use a simple statistical framework to compute a price index that is immune to one of the potentially important biases …