Hedonic Imputation versus Time Dummy Hedonic Indexes
October 1, 2007
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W. E. Diewert, Mick Silver, and Saeed Heravi. Hedonic Imputation versus Time Dummy Hedonic Indexes, (USA: International Monetary Fund, 2007) accessed November 23, 2024
Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate
Summary
Statistical offices try to match item models when measuring inflation between two periods. However, for product areas with a high turnover of differentiated models, the use of hedonic indexes is more appropriate since they include unmatched new and old models. There are two main competing approaches to hedonic indexes are hedonic imputation (HI) indexes and dummy time hedonic (HD) indexes. This study provides a formal analysis of exactly why the results from the two approaches may differ and discusses the issue of choice between these approaches. An illustrative study for desktop PCs is provided.
Subject: Commodity markets, Expenditure
Keywords: WP
Publication Details
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Pages:
36
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Volume:
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DOI:
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Issue:
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Series:
Working Paper No. 2007/234
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Stock No:
WPIEA2007234
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ISBN:
9781451867985
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ISSN:
1018-5941
