This paper provides a justification for hedonic price indices and details the properties of hedonic price functions. The analysis is done in a market setting in which a finite number of goods, each defined by its characteristics, interact. We note that proper hedonic indices can be constructed...

No cross-sectional consumer price index is currently available by state, and the BLS's cross-sectional "family budget" index for metropolitan areas is not well-suited for cross-state analyses. In this paper we propose an algorithm for constructing a state-specific Laspeyres price index using...

Chapter 1: Introduction -- Chapter 2: The Early History of Inflation Measurement -- Chapter 3: The Launch of the Index of Retail Prices -- Chapter 4: Improving the Index -- Chapter 5: The RPI in the Political Sphere -- Chapter 6: Reviews of the RPI and the Loss of National Statistics Status --...

This paper provides a justification for hedonic price indices and details the properties of hedonic price functions. The analysis is done in a market setting in which a finite number of goods, each defined by its characteristics, interact. We note that proper hedonic indices can be constructed...