Arslan, Yavuz; Ceritoglu, Evren - In: Central Bank Review 11 (2011) 1, pp. 1-9
In this study, average quality growth and upward inflation bias are estimated for a set of 51 goods by using six waves of TURKSTAT Household Budget Surveys from 2003 to 2008 and consumer prices in Turkey. Using instrumental variables approach suggested by Bils and Klenow (2001), the annual...
