Hedonic Price Indexes: A Comparison of Imputation, Time Dummy and ’Re-Pricing’ Methods
The main approaches to measuring hedonic indexes in the academic literature are the imputation approach and the time dummy approach. This paper compares both approaches, discusses an alternative method called hedonic re-pricing, and comments on a recent contribution by Diewert et al. (2009). The aim is to explain the differences between the various hedonic approaches as well as their similarities, and to point to the implications for statistical agencies. Hedonic price indexes can be weighted or unweighted and the paper addresses the issue of choice of regression weights. For unweighted indexes it is shown that the ’full’ hedonic imputation approach and the time dummy approach implicitly leave the matched part of the indexes unaffected, just like ’single’ and ’double’ hedonic imputation do explicitly.
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Volume (Year): 230 (2010)
Issue (Month): 6 (December)
|Contact details of provider:|| Postal: |
Phone: +49 (0)641 99 22 001
Fax: +49 (0)641 99 22 009
Web page: http://wiwi.uni-giessen.de/home/oekonometrie/Jahrbuecher/
More information through EDIRC
When requesting a correction, please mention this item's handle: RePEc:jns:jbstat:v:230:y:2010:i:6:p:772-791. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Peter Winker)
If references are entirely missing, you can add them using this form.