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treatment, rather than prices of fixed bundles of inputs. We outline features of a proposed new experimental price index -- a … medical care expenditure price index -- that is more suitable for evaluation and analyses of medical care cost changes, than …
Persistent link: https://www.econbiz.de/10013215700
indices. Since the matched model index does not incorporate price changes for goods which exit, and the goods that exited tend … to be those goods whose prices fall, the matched model index has a selection problem which biases it upwards. The hedonic … index does not have this problem. We illustrate with a new study of price indices for PC's. The hedonic index shows steep …
Persistent link: https://www.econbiz.de/10013323453
This paper considers forecasting a single time series using more predictors than there are time series observations. The approach is to construct a relatively few indexes, akin to diffusion indexes, which are weighted averages of the predictors, using an approximate dynamic factor model....
Persistent link: https://www.econbiz.de/10013323460
No cross-sectional consumer price index is currently available by state, and the BLS's cross-sectional "family budget …" index for metropolitan areas is not well-suited for cross-state analyses. In this paper we propose an algorithm for … constructing a state-specific Laspeyres price index using conveniently available information from the Census of Business and the …
Persistent link: https://www.econbiz.de/10013227528
Researchers constructing index number frequently face the problem of new (or disappearing) goods, for which the price … and quantity are not available in some periods. In theory, the correct way to handle a new good is to treat its price … that the corresponding price index takes on a very sensible form. We apply this formula to measure the price index for six …
Persistent link: https://www.econbiz.de/10013228026
Measuring the performance of private equity investments (buyout and venture) has historically only been possible over long horizons because the IRR on a fund is only observable following the fund's final distribution. We propose a new approach to evaluating performance using actual prices paid...
Persistent link: https://www.econbiz.de/10012908484
The prescription drug component of the Consumer Price Index (CPI measures recent and past drug price changes, and …
Persistent link: https://www.econbiz.de/10012929587
In this paper we focus on alternative procedures for calculating and interpreting quality-adjusted price indexes for microcomputers, based on a variety of estimated hedonic price equations. Our data set comprises an unbalanced panel for 1265 model observations from 1982 to 1988, and includes...
Persistent link: https://www.econbiz.de/10013237024
The paper describes the background for my original "hedonics" paper (Griliches 1961) and discusses some of the issues raised by the subsequent literature on this range of topics. It goes on to consider some of the implications of this work for the measurement of capital services and connects it...
Persistent link: https://www.econbiz.de/10013212907
The composite index of leading indicators is found to be a valuable tool for predicting not only the direction but also … index as a predictor of (1) business cycle turning points as dated by the National Bureau of Economic Research and (2 …) quantitative changes in real GNP and the composite index of coincident indicators. Specific smoothing rules are identified which …
Persistent link: https://www.econbiz.de/10013244130