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A practical guide to price index and hedonic techniques

Author: Ana Aizcorbe
Publisher: Oxford, United Kingdom : Oxford University Press, 2014.
Series: Practical econometrics.
Edition/Format:   Print book : English : First editionView all editions and formats
Summary:
This book provides an accessible guide to price index and hedonic techniques, with a focus on how to best apply these techniques and interpret the resulting measures. One goal of this book is to provide first-hand experience at constructing these measures, with guidance on practical issues such as what the ideal data would look like and how best to construct these measures when the data are less than ideal. A  Read more...
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Material Type: Internet resource
Document Type: Book, Internet Resource
All Authors / Contributors: Ana Aizcorbe
ISBN: 9780198702429 0198702426
OCLC Number: 885024071
Description: xiv, 118 pages : illustrations ; 24 cm.
Contents: Machine generated contents note: 1. Introduction --
1.1. Potential Uses of These Methods --
1.2. Price Measures in the Context of Official Statistics --
1.3. Bibliography of Empirical Price Measurement Studies, By Industry --
2. Price Indexes --
2.1. Index Number Formulas --
2.1.1. Illustration of Calculations --
2.2. Fixed-Base vs. Chained-Price Indexes --
2.2.1. Chain Drift Problem --
2.2.2. Example 2.1. Fixed-Base and Chained-Price Indexes Using Aggregate Data (NIPA) --
2.3. Two Interpretations --
2.3.1. Cost of Living Index --
2.3.2. Constant-Quality Price Index --
2.4. Example 2.2 Chained Matched-Model Price Indexes for DRAM chips (Victor and Ausubel, 2002) --
2.5. Example 2.3 Matched-Model Indexes for Desktop Computers (ISMS Durable Database #1) --
3. Hedonic Methods --
3.1. Dummy Variable Method --
3.1.1. Regression for the DV Price Index --
3.1.2. Calculation of the DV Price Index --
3.1.3. Example 3.1 DV Price Indexes for Newton Housing Data (Ellison 2002). Contents note continued: 3.1.4. Example 3.2 Weighted vs. Unweighted Dummy Variable Price Indexes for FakeIT data --
3.1.5. Functional Form and Treatment of New Goods in the DV Price Index --
3.2. Imputation Method --
3.2.1. Notation for Hedonic Regressions used in Imputation Indexes --
3.2.2. Imputation Indexes --
3.2.2.1. Single Imputation --
3.2.2.2. Double Imputation --
3.2.2.3. Full Imputation --
3.2.2.4. Characteristics Price Index --
3.2.3. Example 3.3 Imputation Indexes for Newton Housing Data (Ellison, 2002) --
3.2.4. Example 3.4 Imputation Price Indexes for FakeIT Data --
4. Defining the Good and Data Issues --
4.1. Defining the Good --
4.1.1. Matched-Model Indexes --
4.1.1.1. Literature --
4.1.1.2. Data Constraints --
4.1.2. Hedonic Indexes --
4.2. Other Issues --
4.2.1. Measuring the Price --
4.2.2. How Often Does One Observe Prices? --
4.2.2.1. Example 4.1 Military Aircraft (Herald, 2006) --
4.2.3. Features of the Sample --
4.3. Example 4.2 Point of Sale Data for Consumer Durable Goods. Contents note continued: 4.3.1. Point-of-Sale Transaction Data --
4.3.2. Attributes File --
4.4. Example 4.3 Survey Data for Prescription Drug Purchases --
5. Conclusion.
Series Title: Practical econometrics.
Responsibility: Ana M. Aizcorbe.

Abstract:

An accessible text introducing methods that are used to measure price trends for specific industries or goods. The focus is on price index and hedonic techniques, the two methods most widely used by  Read more...

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   schema:description "Contents note continued: 3.1.4. Example 3.2 Weighted vs. Unweighted Dummy Variable Price Indexes for FakeIT data -- 3.1.5. Functional Form and Treatment of New Goods in the DV Price Index -- 3.2. Imputation Method -- 3.2.1. Notation for Hedonic Regressions used in Imputation Indexes -- 3.2.2. Imputation Indexes -- 3.2.2.1. Single Imputation -- 3.2.2.2. Double Imputation -- 3.2.2.3. Full Imputation -- 3.2.2.4. Characteristics Price Index -- 3.2.3. Example 3.3 Imputation Indexes for Newton Housing Data (Ellison, 2002) -- 3.2.4. Example 3.4 Imputation Price Indexes for FakeIT Data -- 4. Defining the Good and Data Issues -- 4.1. Defining the Good -- 4.1.1. Matched-Model Indexes -- 4.1.1.1. Literature -- 4.1.1.2. Data Constraints -- 4.1.2. Hedonic Indexes -- 4.2. Other Issues -- 4.2.1. Measuring the Price -- 4.2.2. How Often Does One Observe Prices? -- 4.2.2.1. Example 4.1 Military Aircraft (Herald, 2006) -- 4.2.3. Features of the Sample -- 4.3. Example 4.2 Point of Sale Data for Consumer Durable Goods."@en ;
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