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Federal Reserve Bank of San Francisco
Working Paper Series
When do matched-model and hedonic techniques yield similar measures?
Mark Doms
Ana M. Aizcorbe
Carol Corrado
Abstract

Hedonic techniques were developed to control for quality differences across goods and over time in order to construct constant-quality aggregate price measures. When the available data are a panel of high-frequency data on models whose characteristics are constant over time, matched-model price indexes can also be used to obtain constant quality price measures. We show this by demonstrating that, given data of this type, certain matched-model indexes yield price measures that are numerically close to those obtained using hedonic techniques. ; * This paper is a condensed version of a paper that was presented at the CRIW workshop on Price Measurement at the NBER Summer Institute, July 31-August 1, 2000 and is available at http://www.nber.org.


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Mark Doms & Ana M. Aizcorbe & Carol Corrado, When do matched-model and hedonic techniques yield similar measures?, Federal Reserve Bank of San Francisco, Working Paper Series 2003-14, 2003.
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Keywords: Prices ; Econometric models
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