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Hedonic Prices Indexes for New Passenger Cars in Portugal (1997-2001)

Reis, Hugo J and Santos Silva, Joao M C (2002) Hedonic Prices Indexes for New Passenger Cars in Portugal (1997-2001). Working Paper. Banco de Portugal, Economics and Research Department.

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Abstract

In this paper we study the effects of quality change on the price index for new passenger cars in Portugal for the years 1997-2001. Hedonic regression models are studied, giving particular emphasis to the relation between the form of the price index and the specification of the hedonic equation and estimation method used. The results indicate that the CPI component correponding to this item may have been overestimated by as much as 2.2 percentage points per year. This corresponds to an overestimation of the overall CPI by about 0.15 percentage points per year. As a by-product of the analysis it is also possible to conclude that the the quality of new cars sold in Portugal increased on average 4.8 per cent per year during this period.

Item Type: Monograph (Working Paper)
Subjects: H Social Sciences > HB Economic Theory
Divisions: Faculty of Social Sciences > Economics, Department of
Depositing User: Jim Jamieson
Date Deposited: 08 Aug 2012 12:31
Last Modified: 08 Aug 2012 12:31
URI: http://repository.essex.ac.uk/id/eprint/3595

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