| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP13445 |
| DP13445 New Characteristics and Hedonic Price Index Numbers | |
| Ian Crawford; Peter Neary | |
| 发表日期 | 2019-01-12 |
| 出版年 | 2019 |
| 语种 | 英语 |
| 摘要 | Changes in product characteristics on the extensive margin are an important and hitherto neglected dimension of quality change. Standard techniques for quality-adjusting price indices cannot handle such changes satisfactorily, which leads to an economically and statistically significant bias in the measurement of prices and real output. We combine theoretical insights from index numbers and demand for characteristics to develop a new method for incorporating changes on the extensive characteristic margin. Applied to data on new car sales in the U.K., our method leads to revisions in estimated inflation rates for this commodity group that are both plausible and quantitatively important. |
| 主题 | International Trade and Regional Economics |
| 关键词 | Extensive and intensive margins of consumption Characteristics model Quality change Sato-vartia-feenstra index numbers |
| URL | https://cepr.org/publications/dp13445 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/542260 |
| 推荐引用方式 GB/T 7714 | Ian Crawford,Peter Neary. DP13445 New Characteristics and Hedonic Price Index Numbers. 2019. |
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