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Download book Using Hedonic Methods for Quality Adjustment in the CPI : The Consumer Audio Products Component

Download book Using Hedonic Methods for Quality Adjustment in the CPI : The Consumer Audio Products Component

Using Hedonic Methods for Quality Adjustment in the CPI : The Consumer Audio Products Component by Mary Kokoski

Using Hedonic Methods for Quality Adjustment in the CPI : The Consumer Audio Products Component
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Author: Mary Kokoski
Page Count: 54 pages
Published Date: 31 Jul 2013
Publisher: Createspace
Publication Country: United States
Language: English
ISBN: 9781491214534
File Name: Using.Hedonic.Methods.for.Quality.Adjustment.in.the.CPI.The.Consumer.Audio.Products.Component.pdf
Download Link: Using Hedonic Methods for Quality Adjustment in the CPI The Consumer Audio Products Component
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There has been strong recommendation that the BLS explore the use of hedonic methods forquality adjustment in the Consumer Price Index (CPI) for decades. The Price Statistics ReviewCommittee (the Stigler Commission Report) in 1961 expressed the view that hedonic analysis would provide a "more objective" approach to addressing quality change than the BLS standard methods of dealing with this issue (Triplett (1990)). More recently, the Advisory Commission to Study theConsumer Price Index (the Boskin Commission Report, 1996) reiterated this recommendation, recognizing that accurate measures of quality change will enable a more accurate measure of pure price, or "cost-of-living" change. Categories of goods and services where quality changes are frequent andrelatively easy to identify are the best candidates for using hedonic methods, given that data can beacquired.

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