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Using the Retail Distribution of Sellers to Impute Expenditures Shares

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Listed:
  • Alexis Antoniades
  • Robert C. Feenstra
  • Mingzhi Xu

Abstract

Many price indices must be constructed without quantity data at the elementary level. We show that for some consumer goods in the United States and other countries, one can approximate expenditure shares using weights derived from the retail distribution of sellers. These weights are based on the share of outlets selling an item, or the share of outlets adjusted by the total number of items sold in each. Relative to using no weights, we find that using such imputed weights substantially reduces bias in the frequency of price changes, in annual inflation, and in price comparisons across countries.

Suggested Citation

  • Alexis Antoniades & Robert C. Feenstra & Mingzhi Xu, 2021. "Using the Retail Distribution of Sellers to Impute Expenditures Shares," NBER Working Papers 28902, National Bureau of Economic Research, Inc.
    • Handle: RePEc:nbr:nberwo:28902
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    JEL classification:

    • C81 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Methodology for Collecting, Estimating, and Organizing Microeconomic Data; Data Access
    • E01 - Macroeconomics and Monetary Economics - - General - - - Measurement and Data on National Income and Product Accounts and Wealth; Environmental Accounts
    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation

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