This paper explores the extent to which goods follow systematic pricing patterns over their life cycle. The theoretical literature, and anecdotal evidence, often suggests that new products are often introduced at high prices which decline as the good ages while, older goods exit the market at a...

In the economic literature, essentially, hedonic techniques either are applied straightforwardly or the economic foundations of the hedonic hypothesis are discussed. In this paper, the statistical foundations of hedonic price indices are developed. After a short overview on well-known functional...

Panel hedonic comparisons can be made using the region-time-dummy method. This method is a natural extension of the well known time-dummy and region-dummy methods which have been used extensively in the hedonic literature. We show that these methods are all affected by substitution bias, which...

This paper explores the extent to which goods follow systematic pricing patterns over their life cycle. The theoretical literature, and anecdotal evidence, suggests that new products are often introduced at high prices which decline as the good ages while, older goods exit the market at a...

Hedonic house price indices adjust the average sales prices for the change in the quality of the property sold over time. This paper proposes a framework to disentangle the contribution of each individual dwelling characteristic to this quality change. We apply our framework to a unique dataset...

The COVID-19 crisis had a major impact on the measurement of inflation around the world, as price observation in shops became impossible and some markets completely closed down. This article looks at the measures taken during the crisis in 2020 to ensure the continued compilation of the European...

The COVID-19 crisis had a major impact on the measurement of inflation around the world, as price observation in shops became impossible and some markets completely closed down. This article looks at the measures taken during the crisis in 2020 to ensure the continued compilation of the European...

Inflation rates of more than 3% in Germany during some months in the spring and summer of 2008 have been giving rise to claims from both politicians and the unions for social measures for welfare recipients. It is argued that the burden of inflation is heterogeneously distributed among different...

The treatment of owner-occupied housing costs is a recurring problem in the construction of consumer price indices, and there are competing methodologies. In the most widely-used Irish index, the Payments Approach, which attaches a weight to a term involving historical house prices and an...

In this paper, we review the German practice of imputing the costs of owner-occupied housing by increasing the relative weight of actual rents in the CPI. As the structure of owner-occupied housing differs substantially from that of rental housing, this variant of the imputation method may cause...