This paper computes and compares alternative quality-adjusted price indexes for new cars in Spain in the period 1990 …, that can be interpreted as a proxy for time-variant unobservables. The results show that the non-adjusted price index …-on-year Spanish Consumer Price Index would have been overestimated by around 0.1 % on average during the sample period. Excluding both …

to improve the quality of house price indexes. It is not clear though how best to use this information. We show how … separately for each period. Price indexes are then computed by inserting the imputed prices of houses obtained from the hedonic … model into the Fisher price index formula. Using a data set consisting of 454507 observations for Sydney, Australia over the …

It is often argued that price indexes do not fully capture the quality improvements of new goods in the market. Because … of this shortcoming, price indexes are perceived to overestimate the actual price increases that occur. In this paper, I … argue that the quality bias in price indexes is just as likely to be upward as it is to be downward. I show how both the …

in price indexes. I argue that behind that judgment lay a deeper conceptual divide over how best to define and assess … product quality: through expert testing or through market price differentials. Most American economists working on price … product characteristics as a logical and unproblematic tool for handling quality change in price indexes …

Both the theory and practice of using hedonic regressions to remove quality effects in price indexes are implicitly … quality-adjusted price index for the Australian passenger vehicle market and find they make a substantial difference …

The paper analyzes the problems of measurement of durable consumer prices posed by quality change. Theoretical price … indexes are defined and used to analyze several empirical methods of estimation of quality adjusted price indexes. The paper … provide reliable price estimators. The analysis suggests that the application of methods of measurement based on chain indexes …

We show that hedonic price indices that omit model-specific unobservable product attributes are subject to considerable …