The stability of dummy variable price measures obtained from hedonic regressions
By: Ana Aizcorbe.
Series: Finance and economics discussion series ;; 2003-05; Finance and economics discussion series (Online) ;; 2003-05.
Publisher: Federal Reserve Board
Published: 2003
Place of publication: Washington, D.C
Language: eng
Format: Electronic resource
Description: "Although the stability of coefficients from hedonic regressions has received much attention recently, that of dummy variable (DV) price indexes obtained from these regressions has not.  In principle, one problem translates into the other only when some prices are not observed in the data.  Numerically, however, DV measures obtained from a "typical" specification can be quite unstable even when the number of missing prices is small.  To the extent that collinearity is an important source of the problem, functional forms that use (orthogonal) fixed effects to control for quality differences across goods should yield more stable estimates.  Data for Intel's microprocessors are used to illustrate these points"--Federal Reserve Board web site.
Notes: Also available in print.
Includes bibliographical references.
Title from PDF file as viewed on 7/29/2004.
System requirements: Adobe Acrobat Reader.
Mode of access: World Wide Web.