ERRORS IN OUTPUT DEFLATORS REVISITED: UNIT VALUES AND THE PRODUCER PRICE INDEX
作者:
Donald Siegel,
期刊:
Economic Inquiry
(WILEY Available online 1994)
卷期:
Volume 32,
issue 1
页码: 11-32
ISSN:0095-2583
年代: 1994
DOI:10.1111/j.1465-7295.1994.tb01310.x
出版商: Blackwell Publishing Ltd
数据来源: WILEY
摘要:
Output prices are mismeasured because of inadequate adjustments for changes in product quality. Thus, when quality improves, inflation will be systematically over‐stated. In this study, I find that the most commonly used indicator of the rate of inflation, the Producer Price Index, misses about 40 percent of the change in quality. However, I also find that the mismeasurement of output prices is constant over time, implying that errors of measurement are not a significant determinant of either the slowdown or recent acceleration in manufacturing productivit
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