Estimating Dynamic Price Indexes
نویسندگان
چکیده
Price indexes are summary statistics meant to convey a comparison of prices at one time (or place) to another. The raw ingredients from which a standard price index is constructed are the ratios of the price of an item at one time period to the price of the same item at another. Goods which disappear after the initial time period, or first appear in the second, thwart constructing these ratios. We investigate empirically approaches to handling this problem, in particular, the use of time dummy hedonic indexes.
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