Measurement of price change is based on averages - also, hedonic price index numbers. As NSIs obtain scannerdata having varying content, question arise: what is correct average to use? We compare in this paper price change estimates based on most known averages and index numbers including...

Statistics Finland has a relatively long experience in constructing indices of prices of old dwellings and old one-family detached houses using the hedonic approach where regression analysis and classification of flats are combined. Also, for new one-family detached houses a bilateral...

Differences between chain and base methods (or strategies) are analyzed. This is a preliminary paper that concentrates on numerical results and new ideas. Omitted proofs will appear in later papers. As in title, we use the term circular or chain error. We do not use milder terms as drift or...

Statistics Finland has relatively long experience in constructing indices of prices of old flats using the hedonic approach where regression analysis and classification of flats (i.e. stratification) are combined. Practically this means: First the price model is based on the fixed effect model...

The Dow Jones Industrial Average (DJIA), or Dow Jones, is a stock market index that measures the stock performance of 30 large companies listed on stock exchanges in the United States. Over a period of time, it has become the global standard, a key indicator of the health of the US economy (in...

This paper compares self-reported changes in families' financial status to actual changes based on annual time-series data calculated from the PSID. The results indicate that the Consumer Price Index does a reasonably accurate job reconciling self-reported changes in financial status with...

Despite wide availability of publicly reported price and quantity movements of agricultural commodities, these data alone do not easily allow one to determine whether and to what extent changing market conditions are due to shifts in underlying supply and demand curves. Such information,...

In this paper we discuss recent advances in modeling and estimating dynamic factor demand models, and review the use of such models in analyzing the production structure, the determinants of variable and quasi-fixed factors, and productivity growth. The paper also discusses the traditional...