Econometric analysis of price index for home video cassette recorders in the U.S., 1978-1987 |
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Authors: | Hiroshi Ohashi |
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Institution: | Faculty of Commerce and Business Administration , University of British Columbia , 2053 Main Mall, Vancouver, V6T1Z2, Canada |
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Abstract: | This paper conducts an empirical analysis on the U.S. VCR market using a hedonic approach. The paper finds that quality-adjusted price indices decline at 11-12% per year, with a large annual drop of about 18% from 1982-85. Estimation and data analysis reveal interesting aspects of the evolution of quality and price in the VCR market. As a result of the exclusion of the VCR category until 1986, the paper estimates a bias of 2.4% per year in the CPI electronics subindex. |
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Keywords: | Home Video Cassette Recorders Price Index Hedonics Cpi New Products |
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