The Difference Between Hedonic Imputation Indexes and Time Dummy Hedonic Indexes

July 1, 2006

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Format: Chicago

Saeed Heravi, and Mick Silver. The Difference Between Hedonic Imputation Indexes and Time Dummy Hedonic Indexes, (USA: International Monetary Fund, 2006) accessed November 12, 2024

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary

Statistical offices try to match item models when measuring inflation between two periods. For product areas with a high turnover of differentiated models, however, the use of hedonic indexes is more appropriate since they include the prices and quantities of unmatched new and old models. The two main approaches to hedonic indexes are hedonic imputation (HI) indexes and dummy time hedonic (DTH) indexes. This study provides a formal analysis of the difference between the two approaches for alternative implementations of the Törnqvist "superlative" index. It shows why the results may differ and discusses the issue of choice between these approaches.

Subject: Commodity markets, Consumer price indexes, Price indexes, Silver

Keywords: WP

Publication Details

Pages:

20
Volume:

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DOI:

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Issue:

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Series:

Working Paper No. 2006/181
Stock No:

WPIEA2006181
ISBN:

9781451864410
ISSN:

1018-5941

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