The Difference Between Hedonic Imputation Indexes and Time Dummy Hedonic Indexes
AbstractStatistical offices try to match item models when measuring inflation between two periods. For product areas with a high turnover of differentiated models, however, the use of hedonic indexes is more appropriate since they include the prices and quantities of unmatched new and old models. The two main approaches to hedonic indexes are hedonic imputation (HI) indexes and dummy time hedonic (DTH) indexes. This study provides a formal analysis of the difference between the two approaches for alternative implementations of the Tï¿½rnqvist "superlative" index. It shows why the results may differ and discusses the issue of choice between these approaches.
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Bibliographic InfoArticle provided by American Statistical Association in its journal Journal of Business and Economic Statistics.
Volume (Year): 25 (2007)
Issue (Month): (April)
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Web page: http://www.amstat.org/publications/jbes/index.cfm?fuseaction=main
Other versions of this item:
- Saeed Heravi & Mick Silver, 2006. "The Difference Between Hedonic Imputation Indexes and Time Dummy Hedonic Indexes," IMF Working Papers 06/181, International Monetary Fund.
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