This paper evaluates the effects of quality change on the price index for new passenger cars in Portugal for the years 1997-2001. Hedonic regression models are studied, giving particular emphasis to the relation between the form of the price index and the specification of the hedonic equation...

In this paper, we present an alternative approach to inflation and inflation measurement based on Menger’s theory of inner exchange value of money and on the stochastic approach to index numbers. We briefly describe the characteristics of the sample cross-section distribution of price changes....

This paper present application of the (a)symmetric trimmed means to Czech data (1995:1-2000:12) and discuss the characteristics of the cross-section distribution of price changes.

Prais (1958) showed that the standard CPI computed by most statistical agencies can be interpreted as a weighted average of household price indexes, where the weight of each household is determined by its total expenditures. In this paper, we analytically decompose the difference between the...

This paper discusses the econometric model of inflation processes in the Republic of Belarus which makes it possible to explain major factors determining the dynamics of the GDP deflator, consumer price index and producer price index during the period 1994 - 2003. For estimation of the model the...

The recent debates over discriminatory versus uniform-price auctions in the UK and elsewhere have revealed an incomplete understanding of the limitations of some popular auction models when applied to real-world electricity markets. This has led certain regulatory authorities to prefer...

This cumulative working paper contains the unified joint research completed so far on monetary aggregation under risk, including the extension of index number theory needed to incorporate adjustments for risk into the rate structure, experiments on tracking ability of the unadjusted index, and...

This is the FINAL draft of this paper reporting the results of a long ongoing competition. The paper now is forthcoming in the Journal of Econometrics. This final version replaces the earlier draft that was also in this archive. Interest has been growing in testing for nonlinearity or chaos in...

This paper discusses the performance of popular mismatch indexes proposed by Lilien (1982), Jackman and Roper (1987), Jackman, Layard and Savouri (1991), and Lambert (1988). Results in the literature show that, with the exception of Lambert’s index, measures of mismatch reveal decreasing or at...

Aggregate productivity growth can be decomposed into growth within establishments, between establishments, and the impact of entering and exiting establishments. We demonstrate that such a productivity decomposition formula can also be used for studying intraestablishment restructuring through...