Journal Article

Measurement errors and quality-adjustment methodology: lessons from the Japanese CPI

Abstract: This article examines the problems inherent in quality changes/new goods bias in the Consumer Price Index, using the Japanese case as an example. The author proposes a practical way to improve the accuracy of quality adjustments by introducing the hedonic approach to the conventional procedure.

Keywords: Consumer price indexes;

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Bibliographic Information

Provider: Federal Reserve Bank of Chicago

Part of Series: Economic Perspectives

Publication Date: 1999

Volume: 23

Issue: Q II