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Issues in the measurement of price indices

A CEPR/ECB workshop
Frankfurt, 16/17 November 2001

Summary and conclusions

Measurement issues in European Consumer Price Indices and the conceptual framework of the HICP: Summary and conclusions of the CEPR/ECB workshop on issues in the measurement of price indices. Gonzalo Camba-Mendez, Vítor Gaspar, Mark Wynne, ( pdf 240 kB, en ), July 2002. back to top

Friday, 16 November 2001

08.30 - 09.00

Registration
Quality Change in Price Indices
Chair: Gert Jan Hogeweg (European Central Bank)
09.00 - 09.30

Introduction, Otmar Issing (European Central Bank):
The Relevance of Reliable Statistical Systems for Monetary Policy Making in the Euro Area .
09.30 - 10.30

Why the CPI Matched Models Method May Fail Us: Results from an Hedonic and Matched Experiment Using Scanner Data, Saeed Heravi (Cardiff Business School), Mick Silver (Cardiff Business School) ( pdf 506 kB, en ).

Discussant: David Fenwick (Office for National Statistics)
10.30 - 11.30

Apparel Prices and the Hulgen-Bruegel Paradox, Robert J Gordon ( 1 ) (Northwestern University and CEPR) ( pdf 382 kB, en).

Discussant: John Muellbauer (Nuffield College, University of Oxford and CEPR)
11.30 - 12.00

Coffee Break
Price Changes at the Firm Level
Chair: Gert Jan Hogeweg (European Central Bank)
12.00 - 13.00

Assessing the Consistency of Price Changes at the Firm Level in Two Widely Different Data Sources: The French Producer Price Surveys and the French Business Surveys, Rozeen Desplatz (CREST-INSEE), Jacques Mairesse ( 1 ) (ENSAE, Paris) ( pdf 253 kB, en ).

Discussant: Peter Hill (International Monetary Fund and United Nations)
13.00 - 14.15

Lunch
Quality Adjusted Price Indices for Housing
Chair: Peter Bull (European Central Bank)
14.15 - 14.40

Hedonic House Prices without Characteristics: The Case of New Multi-unit Housing, Olympia Bover ( 1 ) (Banco de España and CEPR), Pilar Velilla (Banco de España) ( pdf 247 kB, en )
14.40 - 15.45

Rent Indices for Housing in West Germany 1985-1998, Johannes Hoffmann ( 1 ) (Deutsche Bundesbank), Claudia Kurz (Deutsche Bundesbank) ( pdf 432 kB , en ).

Discussant: Stephen Cecchetti (Ohio State University)
New Goods
Chair: Peter Bull (European Central Bank)
15.45 - 16.45

A Non-Parametric Method for Valuing New Goods, Laura Blow (Institute for Fiscal Studies), Ian Anderson Crawford ( 1 ) (Institute for Fiscal Studies) ( pdf 431 kB, en ).

Discussant: Pedro Neves (Banco de Portugal)
16.45 - 17.15

Coffee Break
17.15 - 18.45
Parallel Sessions

Session A: Quality Adjusted Price Indices for Cars (Room CIV)
Chair: Dietmar Harhoff (Universität München and CEPR)
- Car Quality Improvements and Price Indices in Spain, Mario Izquierdo (Banco de España), Omar Licandro ( 1 ) (FEDEA), Alberto Maydeu (Universitat de Barcelona) ( pdf 110 kB, en )
- Durable Goods, Price Indexes and Quality Change: An Application to Automobile Prices in Italy 1988-98, Gian-Maria Tomat ( 1 ) (Banca d'Italia) ( pdf 278 kB, en )
- The Cost of Private Transportation in the Netherlands, 1992-1999, Ben Bode ( 1 ) (Erasmus University of Rotterdam), Jan van Dalen (Erasmus University of Rotterdam) ( pdf 250 kB, en )
- Construction Quality Adjusted Price Indexes: A Comparison of Hedonic and Discrete Choice Methods, Nicole Jonker ( 1 ) (De Nederlandsche Bank) ( pdf 116 kB, en )
Discussant: Jack Triplett (Brookings Institute)

Session B: Demand, Substitution and Embodiment (Room CVII)
Chair: Gabriel Fagan (European Central Bank)
- Estimating Demand for Differentiated Products: The Case of Personal Computers, Dietmar Moch ( 1 )> (Centre for European Economic Research)
- Outlet Substitution Bias, Francisco Covas (Universidade Nova de Lisboa), Joao Santos Silva ( 1 ) (ISEG/Universidade Tecnica de Lisboa) ( pdf 47 kB, en )
- Equipment-Embodied Technical Change in the US (1947-1999): Measurement and Applications to Growth Accounting, Jason G Cummins (New York University), Gianluca Violante ( 1 ) (University College London and CEPR) ( pdf 1.5 MB, en )
- The Measurement of Growth Under Embodied Technological Progress, Jorge Duran ( 1 ) (Universidad de Alicante), Omar Licandro (European University Institute), Javier Ruiz-Castillo (Universidad Carlos III) ( pdf 112 kB, en )
Discussant: Nick Oulton (Bank of England)
18.45

End of presentations
20.00

Dinner (Steigenberger Frankfurter Hof, Am Kaiserplatz)

Eugenio Domingo Solans (European Central Bank):
Issues Concerning the Use and Measurement of the HICP

( 1 ) denotes speaker
Organizers: Ernst R Berndt (Massachusetts Institute of Technology), Gonzalo Camba-Mendez (European Central Bank), Vitor Gaspar (European Central Bank), Dietmar Harhoff (Universität München)

Saturday, 17 November 2001

Price Indices During Transition
Chair: Vitor Gaspar (European Central Bank)
09.30 - 10.30

The DM and the Ossi Consumer: Price Indices During Transition, Irwin Collier ( 2 ) (Freie Universität Berlin) ( pdf 780 kB, en ).

Discussant: Axel Weber (Centre for Financial Studies and CEPR)
10.30 - 10.45

Coffee Break
The Harmonised Index of Consumer Prices
Chair: Vitor Gaspar (European Central Bank)
10.45 - 11.15

Harmonized Indexes of Consumer Prices: Their Conceptual Foundations, Erwin Diewert ( 2 ) (University of British Columbia) ( pdf 655 kB, en )
11.15 - 11.45

Measurement Bias in the HICP: What Do We Know and What Do We Need to Know?, Diego Rodriguez-Palenzuela (European Central Bank), Mark Wynne ( 2 ) (Federal Reserve Bank of Dallas) ( pdf 406 kB, en )
Panel Discussion
Chair: Vitor Gaspar (European Central Bank)
11.45 - 13.15

Introduction: Work in Progress on Quality Adjustment, John Astin ( 2 ) (European Commission), Ernst R Berndt (Massachusetts Institute of Technology), Erwin Diewert (University of British Columbia), Wolfgang Schill (European Central Bank), Mark Wynne (Federal Reserve Bank of Dallas)
13.15

Lunch

( 2 ) denotes speaker
Organizers: Ernst R Berndt (Massachusetts Institute of Technology), Gonzalo Camba-Mendez ( European Central Bank), Vitor Gaspar (European Central Bank), Dietmar Harhoff (Universität München)

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