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The Ottawa Group after Ten Meetings: Future Priorities

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  • Diewert, Erwin

Abstract

The paper briefly reviews the accomplishments of the Ottawa Group on the occasion of its tenth meeting and then goes on to list ten problem areas in price measurement that have not been completely resolved and hence should be a focus of future meetings. The ten problem areas are: (1) the construction of elementary indexes when price and quantity data are available; (2) the construction of user costs for capital inputs; (3) the quality adjustment of prices; (4) the construction of price indexes for owner occupied housing; (5) problems associated with difficult to measure services; (6) the treatment of prices associated with household production; (7) the measurement of export and import prices in the production accounts of the System of National Accounts; (8) the treatment of seasonal products; (9) the measurement of core inflation and (10) the treatment of new goods.

Suggested Citation

  • Diewert, Erwin, 2007. "The Ottawa Group after Ten Meetings: Future Priorities," Economics working papers diewert-07-11-16-12-30-23, Vancouver School of Economics, revised 16 Nov 2007.
    • Handle: RePEc:ubc:bricol:diewert-07-11-16-12-30-23
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    File URL: http://microeconomics.ca/erwin_diewert/future.pdf
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    References listed on IDEAS

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    1. Kam Yu, 2009. "Measuring the Output and Prices of the Lottery Sector: An Application of Implicit Expected Utility Theory," NBER Chapters, in: Price Index Concepts and Measurement, pages 405-425, National Bureau of Economic Research, Inc.
    2. D. W. Jorgenson & Z. Griliches, 1967. "The Explanation of Productivity Change," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 34(3), pages 249-283.
    3. Hausman, Jerry, 1999. "Cellular Telephone, New Products, and the CPI," Journal of Business & Economic Statistics, American Statistical Association, vol. 17(2), pages 188-194, April.
    4. Mick Silver, 2007. "Core Inflation: Measurement and Statistical Issues in Choosing Among Alternative Measures," IMF Staff Papers, Palgrave Macmillan, vol. 54(1), pages 163-190, May.
    5. Mr. Marcel Peter & Mr. Scott Roger & Mr. Geoffrey M Heenan, 2006. "Implementing Inflation Targeting: Institutional Arrangements, Target Design, and Communications," IMF Working Papers 2006/278, International Monetary Fund.
    6. Jack Triplett, 2004. "Handbook on Hedonic Indexes and Quality Adjustments in Price Indexes: Special Application to Information Technology Products," OECD Science, Technology and Industry Working Papers 2004/9, OECD Publishing.
    7. W. Erwin Diewert, 1998. "Index Number Issues in the Consumer Price Index," Journal of Economic Perspectives, American Economic Association, vol. 12(1), pages 47-58, Winter.
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    Cited by:

    1. Leonard I. Nakamura, 2009. "Intangible assets and national income accounting: measuring a scientific revolution," Working Papers 09-11, Federal Reserve Bank of Philadelphia.
    2. Leonard I. Nakamura, 2010. "Intangible Assets And National Income Accounting," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 56(s1), pages 135-155, June.
    3. Robert J. Hill & Alice O. Nakamura, 2010. "Improving Inflation And Related Performance Measures For Nations: An Introduction," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 56(s1), pages 1-10, June.

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    More about this item

    Keywords

    Ottawa Group; index numbers; elementary price indexes; user costs; owner occupied housing; hedonic regressions; seasonal products; core inflation; new;
    All these keywords.

    JEL classification:

    • C43 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Index Numbers and Aggregation
    • C81 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Methodology for Collecting, Estimating, and Organizing Microeconomic Data; Data Access
    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation

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