LEADER 05659oam 22012734 450 001 9910826146503321 005 20200520144314.0 010 $a1-4623-6282-6 010 $a1-4518-7416-2 010 $a9786612844584 010 $a1-282-84458-X 010 $a1-4527-8537-6 035 $a(CKB)3170000000055392 035 $a(SSID)ssj0001476961 035 $a(PQKBManifestationID)11818865 035 $a(PQKBTitleCode)TC0001476961 035 $a(PQKBWorkID)11449474 035 $a(PQKB)10325648 035 $a(OCoLC)680613480 035 $a(MiAaPQ)EBC1605983 035 $a(IMF)WPIEE2009271 035 $a(IMF)WPIEA2009271 035 $a(EXLCZ)993170000000055392 100 $a20020129d2009 uf 0 101 0 $aeng 135 $aurcn||||||||| 181 $ctxt 182 $cc 183 $acr 200 14$aThe Hedonic Country Product Dummy Method and Quality Adjustments for Purchasing Power Parity Calculations /$fMick Silver 205 $a1st ed. 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2009. 215 $a28 p 225 1 $aIMF Working Papers 300 $aBibliographic Level Mode of Issuance: Monograph 311 $a1-4519-1832-1 320 $aIncludes bibliographical references. 327 $aIntro -- Contents -- I. Introduction -- II. The 2005 ICP Methodology -- A. Aggregation at the Basic Heading Level -- B. Checklists, Missing Observations, Non-Comparable Replacements, and Quality Adjustments -- III. The Hedonic CPD Method and Use of Grouped Data -- A. A CPD Regression Using Averages Across Outlets -- B. A Hedonic CPD Regression Using Averages Across Outlets -- C. A Hedonic CPD Regression Based Only on Selected Stratifying Factors, not Covariates -- D. Explicit Quality Estimates -- E. Explicit Hedonic Quality Adjustments -- IV. The Hedonic CPD Method and Use of Ungrouped Data -- A. A CPD Regression with Outlet Interaction Terms -- B. A Hedonic CPD Regression -- C. A Pooled Cross-Country Hedonic Regression -- D. The Choice of Estimator for a Hedonic CPD Regression -- Fixed effects estimator -- Random effects estimator -- Hausman and Taylor estimator -- Tests for choosing among estimators -- V. Summary. 330 3 $aThe 2005 International Comparison Program's (ICP) estimates of economy-wide purchasing power parity (PPP) are based on parity estimates for 155 basic expenditure headings, mainly estimated using country product dummy (CPD) regressions. The estimates are potentially inefficient and open to omitted variable bias for two reasons. First, they use average prices across outlets as the left-hand-side variable. Second, quality-adjusted prices of non-comparable replacements, required when products in outlets do not match the required specifications, cannot be effectively included. This paper provides an analytical framework based on panel data and hedonic CPD regressions for ameliorating these sources of bias and inefficiency. 410 0$aIMF Working Papers; Working Paper ;$vNo. 2009/271 606 $aPurchasing power parity 606 $aPurchasing power 606 $aCement$2imf 606 $aCeramics$2imf 606 $aCurrency$2imf 606 $aDeflation$2imf 606 $aForeign Exchange$2imf 606 $aForeign exchange$2imf 606 $aGlass$2imf 606 $aIncome economics$2imf 606 $aInflation$2imf 606 $aInvestment & securities$2imf 606 $aInvestments: Metals$2imf 606 $aLabor economics$2imf 606 $aLabor Economics: General$2imf 606 $aLabor$2imf 606 $aLabour$2imf 606 $aMacroeconomics$2imf 606 $aMetals and Metal Products$2imf 606 $aNational Government Expenditures and Related Policies: Infrastructures$2imf 606 $aOther Public Investment and Capital Stock$2imf 606 $aPrice adjustments$2imf 606 $aPrice Level$2imf 606 $aPrices$2imf 606 $aPublic finance & taxation$2imf 606 $aPublic Finance$2imf 606 $aPublic investment and public-private partnerships (PPP)$2imf 606 $aPublic-private sector cooperation$2imf 606 $aPurchasing power parity$2imf 606 $aSilver$2imf 607 $aUnited States$2imf 615 0$aPurchasing power parity. 615 0$aPurchasing power. 615 7$aCement 615 7$aCeramics 615 7$aCurrency 615 7$aDeflation 615 7$aForeign Exchange 615 7$aForeign exchange 615 7$aGlass 615 7$aIncome economics 615 7$aInflation 615 7$aInvestment & securities 615 7$aInvestments: Metals 615 7$aLabor economics 615 7$aLabor Economics: General 615 7$aLabor 615 7$aLabour 615 7$aMacroeconomics 615 7$aMetals and Metal Products 615 7$aNational Government Expenditures and Related Policies: Infrastructures 615 7$aOther Public Investment and Capital Stock 615 7$aPrice adjustments 615 7$aPrice Level 615 7$aPrices 615 7$aPublic finance & taxation 615 7$aPublic Finance 615 7$aPublic investment and public-private partnerships (PPP) 615 7$aPublic-private sector cooperation 615 7$aPurchasing power parity 615 7$aSilver 676 $a338.102358 700 $aSilver$b Mick$01449453 712 02$aInternational Monetary Fund. 801 0$bDcWaIMF 906 $aBOOK 912 $a9910826146503321 996 $aThe Hedonic Country Product Dummy Method and Quality Adjustments for Purchasing Power Parity Calculations$94264150 997 $aUNINA