Bootstrapping a hedonic price index: experience from used cars data
AbstractEvery hedonic price index is an estimate of an unknown economic parameter. It depends, in practice, on one or more random samples of prices and characteristics of a certain good. Bootstrap resampling methods provide a tool for quantifying sampling errors. Following some general reflections on hedonic elementary price indices, this paper proposes a case-based, a model-based, and a wild bootstrap approach for estimating confidence intervals for hedonic price indices. Empirical results are obtained for a data set on used cars in Switzerland. A simple and an enhanced adaptive semi-logarithmic model are fit to monthly samples, and bootstrap confidence intervals are estimated for Jevons-type hedonic elementary price indices.
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Bibliographic InfoArticle provided by Springer in its journal AStA Advances in Statistical Analysis.
Volume (Year): 91 (2007)
Issue (Month): 1 (March)
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Web page: http://www.springerlink.com/link.asp?id=112915
Other versions of this item:
- Beer, Michael, 2005. "Bootstrapping a Hedonic Price Index: Experience from Used Cars Data," DQE Working Papers 4, Department of Quantitative Economics, University of Freiburg/Fribourg Switzerland, revised 20 Jan 2007.
- C43 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Index Numbers and Aggregation
- C15 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Statistical Simulation Methods: General
- E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
- L62 - Industrial Organization - - Industry Studies: Manufacturing - - - Automobiles; Other Transportation Equipment
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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