04632oam 22012254 450 991078822260332120230721045725.01-4623-6282-61-4518-7416-297866128445841-282-84458-X1-4527-8537-6(CKB)3170000000055392(SSID)ssj0001476961(PQKBManifestationID)11818865(PQKBTitleCode)TC0001476961(PQKBWorkID)11449474(PQKB)10325648(OCoLC)680613480(MiAaPQ)EBC1605983(IMF)WPIEE2009271(EXLCZ)99317000000005539220020129d2009 uf 0engurcn|||||||||txtccrThe Hedonic Country Product Dummy Method and Quality Adjustments for Purchasing Power Parity Calculations /Mick SilverWashington, D.C. :International Monetary Fund,2009.28 pIMF Working PapersBibliographic Level Mode of Issuance: Monograph1-4519-1832-1 Includes bibliographical references.The 2005 International Comparison Program's (ICP) estimates of economy-wide purchasing power parity (PPP) are based on parity estimates for 155 basic expenditure headings, mainly estimated using country product dummy (CPD) regressions. The estimates are potentially inefficient and open to omitted variable bias for two reasons. First, they use average prices across outlets as the left-hand-side variable. Second, quality-adjusted prices of non-comparable replacements, required when products in outlets do not match the required specifications, cannot be effectively included. This paper provides an analytical framework based on panel data and hedonic CPD regressions for ameliorating these sources of bias and inefficiency.IMF Working Papers; Working Paper ;No. 2009/271Purchasing power parityPurchasing powerInvestments: MetalsimfForeign ExchangeimfMacroeconomicsimfPublic FinanceimfNational Government Expenditures and Related Policies: InfrastructuresimfOther Public Investment and Capital StockimfLabor Economics: GeneralimfMetals and Metal ProductsimfCementimfGlassimfCeramicsimfPrice LevelimfInflationimfDeflationimfCurrencyimfForeign exchangeimfPublic finance & taxationimfLabourimfincome economicsimfInvestment & securitiesimfPurchasing power parityimfPublic investment and public-private partnerships (PPP)imfLaborimfSilverimfPrice adjustmentsimfPublic-private sector cooperationimfLabor economicsimfPricesimfUnited StatesimfPurchasing power parity.Purchasing power.Investments: MetalsForeign ExchangeMacroeconomicsPublic FinanceNational Government Expenditures and Related Policies: InfrastructuresOther Public Investment and Capital StockLabor Economics: GeneralMetals and Metal ProductsCementGlassCeramicsPrice LevelInflationDeflationCurrencyForeign exchangePublic finance & taxationLabourincome economicsInvestment & securitiesPurchasing power parityPublic investment and public-private partnerships (PPP)LaborSilverPrice adjustmentsPublic-private sector cooperationLabor economicsPricesSilver Mick1449453International Monetary Fund.DcWaIMFBOOK9910788222603321The Hedonic Country Product Dummy Method and Quality Adjustments for Purchasing Power Parity Calculations3741530UNINA