In the mid-1990s, a pickup in measured productivity growth for the semiconductor industry coincided with an economy-wide acceleration in labor productivity growth. The pickup in semiconductor markets reflected an increase in the growth of real output that was generated by what Dale Jorgenson...

Price deflators for semiconductors fell rapidly over the 1990s, pulled down by steep declines in the deflator for the microprocessor (MPU) segment that accelerated around 1995. A decomposition of a price index for Intel's MPUs suggests that virtually all of the declines in the price index--and...

Hedonic techniques were developed to control for quality differences across goods and over time in order to construct constant-quality aggregate price measures. When the available data are a panel of high-frequency data on models whose characteristics are constant over time, matched-model price...

In this paper we develop a vintage model to gain a better understanding of the semiconductor industry and its role in recent U.S. productivity gains. Unlike previous work, in our model the observed price declines of individual chips are driven by the introduction of better vintages rather than...

Using a new dataset, we document a systematic pattern in the demographic characteristics of car buyers over the model year: as vehicle prices fall over the model year, so do buyer incomes. This pattern is consistent with price-insensitive buyers purchasing early in the year, while others wait...

Intro -- Contents -- Prefatory Note -- Introduction - Ana Aizcorbe, Colin Baker, Ernst R. Berndt, and David M. Cutler -- I. Methodological Issues in Measuring Health Care Costs and Outcomes -- 1. Measuring Health Services in the National Accounts: An International Perspective - Paul Schreyer and...

The celebrated economist Zvi Griliches’s entire career can be viewed as an attempt to advance the cause of accuracy in economic measurement. His interest in the causes and consequences of technical progress led to his pathbreaking work on price hedonics, now the principal analytical technique...