Bootstrapping a hedonic price index: experience from used cars data

AStA Advances in Statistical Analysis - Tập 91 - Trang 77-92 - 2007
Michael Beer1
1Seminar of Statistics, Dept. of Quantitative Economics, University of Fribourg Switzerland, Fribourg, Switzerland

Tóm tắt

Every hedonic price index is an estimate of an unknown economic parameter. It depends, in practice, on one or more random samples of prices and characteristics of a certain good. Bootstrap resampling methods provide a tool for quantifying sampling errors. Following some general reflections on hedonic elementary price indices, this paper proposes a case-based, a model-based, and a wild bootstrap approach for estimating confidence intervals for hedonic price indices. Empirical results are obtained for a data set on used cars in Switzerland. A simple and an enhanced adaptive semi-logarithmic model are fit to monthly samples, and bootstrap confidence intervals are estimated for Jevons-type hedonic elementary price indices.

Tài liệu tham khảo

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Thông tin xuất bản

AStA Advances in Statistical Analysis

Tập 91

77-92

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