Although inflation is much feared for its negative effects on the economy, how to measure it is a matter of considerable debate that has important implications for interest rates, monetary supply, and investment and spending decisions. Underlying many of these issues is the concept of the...

The paper addresses whether hedonic regressions should be weighted (by either quantities sold or expenditures on the model) or not. To make some progress on the issue of what weights to choose, the paper uses the time dummy variable hedonic regression model applied to only two periods. In this...

The 2008 version of the SNA has recommended capitalization of R&D expenditures. To implement this recommendation, we need to determine the depreciation rate of R&D capital. In this paper, we develop a simple model, based on a production function method that allows for monopolistic competition,...

1. Introduction -- 2. A Simple Producer Benef it Measure -- 3. Willingness to Pav Functions and Marginal Cost Functions -- 4. Approximate Benefit Measures -- 5. Problems with the Producer Benefit Measure -- 5.1. Static versus Dynamic Benefit Measures -- 5.2. The Problem of Endogenous Prices for...