Hidden Bibliographic Details
| Other authors / contributors: | International Monetary Fund. Statistics Department.
|
|---|
| Digital file characteristics: | data file
|
|---|
| Notes: | Includes bibliographical references (pages 24-28).
Restrictions unspecified
Electronic reproduction. [Place of publication not identified] : HathiTrust Digital Library, 2011.
Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212
digitized 2011 HathiTrust Digital Library committed to preserve
Print version record.
|
|---|
| Summary: | 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.
|
|---|
| Other form: | Print version: Silver, M.S. Hedonic country product dummy method and quality adjustments for purchasing power parity calculations. [Washington, D.C.] : International Monetary Fund, ©2009
|
|---|
