dc.contributor |
Universitat Rovira i Virgili. Departament d'Economia |
dc.contributor |
Universitat Rovira i Virgili. Centre de Recerca en Economia Industrial i Economia Pública |
dc.contributor.author |
Varela-Irimia, Xosé-Luís |
dc.date.accessioned |
2011-09-19T15:04:21Z |
dc.date.available |
2011-09-19T15:04:21Z |
dc.date.created |
2011 |
dc.date.issued |
2011 |
dc.identifier.issn |
1988 - 0812 |
dc.identifier.other |
T - 1322 - 2011 |
dc.identifier.uri |
http://hdl.handle.net/2072/169683 |
dc.format.extent |
34 |
dc.format.extent |
551408 bytes |
dc.format.mimetype |
application/pdf |
dc.language.iso |
eng |
dc.relation.ispartofseries |
Documents de treball del Departament d'Economia;2011-14 |
dc.rights |
Aquest document està subjecte a una llicència d'ús de Creative Commons, amb la qual es permet copiar, distribuir i comunicar públicament l'obra sempre que se'n citin l'autor original, la universitat i el departament i no se'n faci cap ús comercial ni obra derivada, tal com queda estipulat en la llicència d'ús (http://creativecommons.org/licenses/by-nc-nd/2.5/es/) |
dc.subject.other |
Automòbils -- Indústria i comerç -- Espanya |
dc.subject.other |
Índex de preus al consum |
dc.subject.other |
Cost de la vida |
dc.subject.other |
Preus -- Política governamental |
dc.title |
Age effects, unobserved characteristics and hedonic price indexes: The Spanish car market in the 1990's |
dc.type |
info:eu-repo/semantics/workingPaper |
dc.subject.udc |
338 - Situació econòmica. Política econòmica. Gestió, control i planificació de l'economia. Producció. Serveis. Turisme. Preus |
dc.description.abstract |
This paper computes and compares alternative quality-adjusted price indexes for new
cars in Spain in the period 1990-2000. The proposed hedonic approach simultaneously
controls for time-invariant unobserved product effects and time-variant unobserved quality
changes, that are assumed to be captured by model age effects. The results show that the
non-adjusted price index largely overstates the increase in the cost of living induced by
changes in car prices and that previous evidence for this market have not measured the
real extent of that bias, probably due to the omission of controls for unobservables. It is
also shown that omitting age effects can also lead to misleading conclusions. The estimated
price indexes give also some insights on what could have been the determinants of price
evolution in the Spanish car market.
JEL classi…fication numbers: C43, E31, L11, L13,
Keywords: Hedonic price indexes, Spanish car market, car prices, CPI, Cost of living |