Unit value export and import indices compiled from returns to customs authorities are often used as surrogates for price indices in the measurement of inflation transmission, terms of trade (effects), and to deflate import and export value series to derive volume series. Their widespread use is...

The Consumer Price Index Manual (2004) provides guidelines for aggregation formulas that are promulgated at IMF training courses and technical assistance missions. This paper develops elementary level aggregation theory to better inform users and compilers. Most countries use either the Dutot or...

This paper is concerned with the econometric modelling of prices of similar goods of different vintages coexisting in a market. Updated models of branded consumer durables are often launched annually. Of interest is not only the differential pricing over the life of the update, but the effect of...

This study provides results for an hedonic regression for VCRs in the UK using relatively exhaustive scanner (bar-code) data. Specific issues addressed are sample selectivity bias, given a substantial proportion of the models have limited sales, incorporation of a proxy for the price-cost...

This paper provides an overview of statistical measurement issues relating to alternative measures of core inflation and the criteria for choosing among them. The approaches to measurement considered include exclusion-based methods, limited influence estimators, reweighting, and economic...

Statistical offices try to match item models when measuring inflation between two periods. For product areas with a high turnover of differentiated models, however, the use of hedonic indexes is more appropriate since they include the prices and quantities of unmatched new and old models. The...