This article proposes a new model for autoregressive conditional heteroscedasticity and kurtosis. Via a time-varying degrees of freedom parameter, the conditional variance and conditional kurtosis are permitted to evolve separately. The model uses only the standard Student`s t-density and...

This paper outlines the potential use of bar-code scanner data from retailers for the measurement of inflation. The source benefits from its extensive coverage in providing data on prices, quantities and values of transactions of each model of a good sold. Relative weights can thus be ascribed...

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 the prices and quantities of unmatched new and old models. The...

We consider three approaches to estimating quality-adjusted price changes: (i) the dummy variable approach from a hedonic regression, (ii) a superlative or exact hedonic index and (iii) a matching technique-a technique akin to that used by statistical offices. The dummy variable approach is...