Similar Search Results

Quality Adjustment at Scale : Hedonic vs. Exact Demand-Based Price Indices

Ehrlich, Gabriel; Haltiwanger, John C.; Jarmin, Ronald S.; … - National Bureau of Economic Research - 2023

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...

Persistent link: https://www.econbiz.de/10014322697

The Long and Variable Lags of Monetary Policy : Evidence from Disaggregated Price Indices

Aruoba, S. Borağan; Drechsel, Thomas - National Bureau of Economic Research - 2024

We study how monetary policy affects subcomponents of the Personal Consumption Expenditures Price Index (PCEPI) using local projections. Following a monetary policy contraction, the response of aggregate PCEPI turns significantly negative after over three years. There are stark differences in...

Persistent link: https://www.econbiz.de/10014576652

Weighted Median Inflation Around the World : A Measure of Core Inflation

Ball, Laurence M.; Carvalho, Carlos Viana de; Evans, … - National Bureau of Economic Research - 2023

eliminates this bias, which is based on the percentile of sectoral inflation rates that matches the sample average of headline …

Persistent link: https://www.econbiz.de/10014247953

Comparing Past and Present Inflation

Bolhuis, Marijn A.; Cramer, Judd N. L.; Summers, … - National Bureau of Economic Research - 2022

There have been important methodological changes in the Consumer Price Index (CPI) over time. These distort comparisons of inflation from different periods, which have become more prevalent as inflation has risen to 40-year highs. To better contextualize the current run-up in inflation, this...

Persistent link: https://www.econbiz.de/10013334335

A State Price Index

Fuchs, Victor R. - 1979

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...

Persistent link: https://www.econbiz.de/10012478829

What Measure of Inflation Should a Central Bank Target?

Mankiw, N. Gregory - 2002

This paper assumes that a central bank commits itself to maintaining an inflation target and then asks what measure of the inflation rate the central bank should use if it wants to maximize economic stability. The paper first formalizes this problem and examines its microeconomic foundations. It...

Persistent link: https://www.econbiz.de/10012469328

A Reconsideration of Hedonic Price Indices with an Application to PC's

Pakes, Ariel - 2002

This paper provides a justification for hedonic price indices and details the properties of hedonic price functions. The analysis is done in a market setting in which a finite number of goods, each defined by its characteristics, interact. We note that proper hedonic indices can be constructed...

Persistent link: https://www.econbiz.de/10012470000

High-Frequency Substitution and the Measurement of Price Indexes

Feenstra, Robert C. - 2001

chained indexes. Only the former are theoretically correct, and in fact, the chained indexes have a pronounced upward bias for … most regions of the U.S. This upward bias can be caused by consumers purchasing goods for inventory. The paper presents … some direct statistical support for inventory behavior being the cause of the upward bias, though advertising and special …

Persistent link: https://www.econbiz.de/10012470550

Price Indexes for Medical Care Goods and Services : An Overview of Measurement Issues

Berndt, Ernst R. - 1998

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/10012471996

Axiomatic and Economic Approaches to Elementary Price Indexes

Diewert, W. Erwin - 1995

% per year respectively during the 1980s. He attributes this result to outlet substitution bias. The more recent paper by … generates an upward bias. This paper further explores the central theoretical issue raised by the Reinsdorf-Moulton paper: the …, and the recent literature on sources of bias in consumer price indexes. The findings of this paper in conjunction with the …

Persistent link: https://www.econbiz.de/10012473782

1
2
3
4
5
6
7
8
9
10
Next
Last