We introduce an instrumental variables approach to estimate the importance of unmeasured quality growth for a set of 66 durable consumer goods. Our instrument is based on predicting which of these 66 goods will display rapid quality growth. Using pooled cross- relatively sections of households...

For some goods, the main cost of buying the product is not the price but rather the time it takes touse them. Only about 0.2% of consumer spending in the U.S., for example, went for Internet accessin 2004 yet time use data indicates that people spend around 10% of their entire leisure time...

We introduce an instrumental variables approach to estimate the importance of unmeasured quality growth for a set of 66 durable consumer goods. Our instrument is based on predicting which of these 66 goods will display rapid quality growth. Using pooled cross- relatively sections of households...