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A nonlinear generalization of the country-product-dummy method
Auer, Ludwig von; Weinand, Sebastian - 2022
The present paper shows that product-specific regional price dispersion usually causes the Country-Product-Dummy (CPD) method to be biased. In cases where it is not, this index number method is still inefficient and inference is invalid. In view of this, a nonlinear generalization of the CPD...
Persistent link: https://www.econbiz.de/10013460131
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The measurement of macroeconomic price level changes
Auer, Ludwig von - 2009
Textbooks of macroeconomics regularly remind their readers that they should not interpret the macroeconomic price variable as some sort of average price. Instead it represents some price index indicating the average of the individual items' price changes between the period considered and some...
Persistent link: https://www.econbiz.de/10010356094
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The Product Life Cycle and Sample Representativity Bias in Price Indexes
Melser, Daniel - 2016
trends at different points in their life cycle then matched sample methods may introduce bias if the life cycle movement in … pricing effects and then examines the bias it can introduce in measured inflation. A large US supermarket scanner data set for … change is important across a range of products and cities. To explore the bias introduced by these movements we use …
Persistent link: https://www.econbiz.de/10012987900
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Substitution Bias in Multilateral Methods for CPI Construction Using Scanner Data
Diewert, W. Erwin; Fox, Kevin J. - 2018
Index. The attractiveness stems from the ability to be able to control for chain drift bias. Consensus on two key issues has …
Persistent link: https://www.econbiz.de/10014110279
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Price level dynamics, wages and distribution
Martin, Anne; Herr, Hansjörg; Heine, Michael - 2024
Inflationary processes are closely linked to wage-price spirals - such spirals can be triggered by many factors, including natural resource price shocks, depreciation and inflationary demand. Empirically, the correlation between changes in nominal unit labour costs and the price level is strong...
Persistent link: https://www.econbiz.de/10014582674
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Aggregation in large dynamic panels
Pesaran, M. Hashem; Chudik, Alexander - 2011
This paper considers the problem of aggregation in the case of large linear dynamic panels, where each micro unit is potentially related to all other micro units, and where micro innovations are allowed to be cross sectionally dependent. Following Pesaran (2003), an optimal aggregate function is...
Persistent link: https://www.econbiz.de/10009010169
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Aggregation in Large Dynamic Panels
Pesaran, M. Hashem - 2011
This paper considers the problem of aggregation in the case of large linear dynamic panels, where each micro unit is potentially related to all other micro units, and where micro innovations are allowed to be cross sectionally dependent. Following Pesaran (2003), an optimal aggregate function is...
Persistent link: https://www.econbiz.de/10013129942
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Aggregation in Large Dynamic Panels
Pesaran, M. Hashem - 2015
This paper considers the problem of aggregation in the case of large linear dynamic panels, where each micro unit is potentially related to all other micro units, and where micro innovations are allowed to be cross sectionally dependent. Following Pesaran (2003), an optimal aggregate function is...
Persistent link: https://www.econbiz.de/10013038262
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Aggregation in large dynamic panels
Pesaran, M. Hashem; Chudik, Alexander - 2011
This paper considers the problem of aggregation in the case of large linear dynamic panels, where each micro unit is potentially related to all other micro units, and where micro innovations are allowed to be cross sectionally dependent. Following Pesaran (2003), an optimal aggregate function is...
Persistent link: https://www.econbiz.de/10009130496
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Price-Level Computation Method
Afriat, Sydney - 2008
It has been submitted that, for the very large number of different traditional formulae to determine price indices associated with a pair of periods, which are joined with the longstanding question of which one to choose, they should all be abandoned. For the method proposed instead, price...
Persistent link: https://www.econbiz.de/10012726670