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Index Number and Factor Demand Approaches to the Estimation of Productivity
Good, David H.; Nadiri, M. Ishaq; Sickles, Robin C. - 2021
productivity growth. The two major methods used in measuring productivity growth -- index number and econometric estimation …, infrastructure capital, allocative distortions, nature of the market structure and technological advancement on productivity growth … estimate the contribution of different inputs to productivity growth are described and the evaluation of the production process …
Persistent link: https://www.econbiz.de/10013230977
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Dynamic Factor Demand Models and Productivity Analysis
Nadiri, M. Ishaq; Prucha, Ingmar R. - 2021
such models in analyzing the production structure, the determinants of variable and quasi-fixed factors, and productivity … growth. The paper also discusses the traditional approach to productivity analysis based on the Divisia index number …
Persistent link: https://www.econbiz.de/10013229343
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The Index of Leading Indicators : "Measurement Without Theory," Twenty-Five Years Later
Auerbach, Alan J. - 2011
spite of the original criticism that its use represents "measurement without theory. " This paper seeks to evaluate the …
Persistent link: https://www.econbiz.de/10013133170
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International Prices and Endogenous Quality
Feenstra, Robert C. - 2013
The unit values of internationally traded goods are heavily influenced by quality. We model this in an extended monopolistic competition framework where, in addition to choosing price, firms simultaneously choose quality. We allow countries to have non-homothetic demand for quality. The optimal...
Persistent link: https://www.econbiz.de/10013090428
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How Much Do Official Price Indexes Tell Us About Inflation?
Handbury, Jessie - 2013
Official price indexes, such as the CPI, are imperfect indicators of inflation calculated using ad hoc price formulae different from the theoretically well-founded inflation indexes favored by economists. This paper provides the first estimate of how accurately the CPI informs us about "true"...
Persistent link: https://www.econbiz.de/10013074909
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Measuring Aggregate Price Indexes with Taste Shocks : Theory and Evidence for Ces Preferences
Redding, Stephen J. - 2016
We develop an approach to measuring the cost of living for CES preferences that treats demand shocks as taste shocks that are equivalent to price shocks. In the presence of relative taste shocks, the Sato-Vartia price index is upward biased because an increase in the relative consumer taste for...
Persistent link: https://www.econbiz.de/10012985591
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Price Indexes for Medical Care Goods and Services : an Overview of Measurement Issues
Berndt, Ernst R.; Cutler, David M.; Frank, Richard G.; … - 2021
We review in considerable detail the conceptual and measurement issues that underlie construction of medical care price indexes in the U.S., particularly the medical care consumer price indexes (MCPIs) and medical-related producer price indexes (MPPIs). We outline salient features of the medical...
Persistent link: https://www.econbiz.de/10013215700
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Designing Indexed Units of Account
Shiller, Robert J. - 2021
An indexed unit of account is a unit of measurement defined using an index such as a consumer price index so that prices defined in terms of these units will automatically adjust to changing economic conditions. Evidence on sticky prices and money illusion, and evidence from countries (notably...
Persistent link: https://www.econbiz.de/10013218312
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Hedonic Imputation Versus Time Dummy Hedonic Indexes
Diewert, W. Erwin; Heravi, Saeed; Silver, Mick - 2021
Törnqvist superlative index in standard index number theory. This study shows exactly why the results may differ and discusses …
Persistent link: https://www.econbiz.de/10013232186
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High-Frequency Substitution and the Measurement of Price Indexes
Feenstra, Robert C.; Shapiro, Matthew D. - 2022
This paper investigates the use of high-frequency scanner data to construct price indexes. In the presence of inventory behavior, purchases and consumption by individuals differ over time. Cost-of-living indexes can still be constructed using data on purchases. For weekly data on canned tuna,...
Persistent link: https://www.econbiz.de/10013322321