Econometric Analysis of Price Index for Home Video Cassette Recorders in the U . S . , 1978 - 1987 Hiroshi
نویسنده
چکیده
This paper conducts an empirical analysis on the U.S. VCR market using a hedonic approach. The paper finds that quality-adjusted price indexes 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. Finally the paper estimates a bias of 3.2% per year in the BLS CPI of the Appliance Including Consumer Electronics category due to not having priced VCRs until 1986.
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