Econometric analysis of price index for home video cassette recorders in the U.S., 1978-1987
This paper conducts an empirical analysis on the U.S. VCR market using a hedonic approach. The paper finds that quality-adjusted price indices decline at 11-12% per year, with a large annual drop of about 18% from 1982-85. Estimation and data analysis reveal interesting aspects of the evolution of quality and price in the VCR market. As a result of the exclusion of the VCR category until 1986, the paper estimates a bias of 2.4% per year in the CPI electronics subindex.
Volume (Year): 12 (2003)
Issue (Month): 2 ()
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References listed on IDEAS
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- Robert J. Gordon, 1990. "The Measurement of Durable Goods Prices," NBER Books, National Bureau of Economic Research, Inc, number gord90-1.
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in: Price Measurements and Their Uses, pages 63-100
National Bureau of Economic Research, Inc.
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99-011, United Nations World Employment Programme-.
- Paul A. David, 2005. "Understanding Digital Technology’s Evolution and the Path of Measured Productivity Growth: Present and Future in the Mirror of the Past," Macroeconomics 0502022, EconWPA.
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