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A quality-constant price index for new cars in the UK, 1986 to 1995

Author

Listed:
  • Laura Blow

    (Institute for Fiscal Studies and University of Surrey)

  • Ian Crawford

    (Institute for Fiscal Studies and Nuffield College, Oxford)

Abstract

This paper presents an hedonic model of the price of a sample of new cars available in the UK during the period 1986 to 1995. It overcomes the problem of collinearity in the characteristics data by grouping them on a priori grounds and then using principal components analysis to generate group characteristic indices. The resulting hedonic index is compared to the mean price index and is shown to be significantly different by the end of the period studied.

Suggested Citation

  • Laura Blow & Ian Crawford, 1998. "A quality-constant price index for new cars in the UK, 1986 to 1995," IFS Working Papers W98/12, Institute for Fiscal Studies.
    • Handle: RePEc:ifs:ifsewp:98/12
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    Cited by:

    1. Reis, Hugo J. & Santos Silva, J.M.C., 2006. "Hedonic prices indexes for new passenger cars in Portugal (1997-2001)," Economic Modelling, Elsevier, vol. 23(6), pages 890-908, December.
    2. Hoffmann, Johannes, 1998. "Problems of inflation measurement in Germany," Discussion Paper Series 1: Economic Studies 1998,01e, Deutsche Bundesbank.

    More about this item

    JEL classification:

    • D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis

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