Cross-validation of quality-adjustment methods for price indexes

被引:0
作者
Adams, Brian [1 ]
Klayman, Alexander [1 ]
机构
[1] US Bur Labor Stat, Off Prices & Living Condit, Washington, DC 20212 USA
关键词
D O I
暂无
中图分类号
F24 [劳动经济];
学科分类号
020106 ; 020207 ; 1202 ; 120202 ;
摘要
Price index programs may use several quality-adjustment methods, but they often lack guidance on when to use a given method. As part of an effort to improve quality adjustment for network switches in the Producer Price Index, we compare some standard quality-adjustment methods, using cross-validation. For our sample, seemingly reasonable hedonic specifications impute out-of-sample prices less accurately than other, traditional quality-adjustment methods.
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页数:12
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