The Hedonic Country Product Dummy Method and Quality Adjustments for Purchasing Power Parity Calculations / / Mick Silver

• Autore: Silver Mick
• Pubblicazione: Washington, D.C. : , : International Monetary Fund, , 2009
• Descrizione fisica: 28 p
• Soggetto topico: Purchasing power parity; Purchasing power; Investments: Metals; Foreign Exchange; Macroeconomics; Public Finance; National Government Expenditures and Related Policies: Infrastructures; Other Public Investment and Capital Stock; Labor Economics: General; Metals and Metal Products; Cement; Glass; Ceramics; Price Level; Inflation; Deflation; Currency; Foreign exchange; Public finance & taxation; Labour; income economics; Investment & securities; Public investment and public-private partnerships (PPP); Labor; Silver; Price adjustments; Public-private sector cooperation; Labor economics; Prices
• Soggetto geografico: United States
• Note generali: Bibliographic Level Mode of Issuance: Monograph
• Nota di bibliografia: Includes bibliographical references.
• Sommario/riassunto: 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.
• Titolo autorizzato: The Hedonic Country Product Dummy Method and Quality Adjustments for Purchasing Power Parity Calculations
• ISBN: 1-4623-6282-6; 1-4518-7416-2; 9786612844584; 1-282-84458-X; 1-4527-8537-6
• Formato: Materiale a stampa
• Livello bibliografico: Monografia
• Lingua di pubblicazione: Inglese
• Record Nr.: 9910788222603321
• Lo trovi qui: Univ. Federico II
• Serie: IMF Working Papers; Working Paper ; ; No. 2009/271