Eliminating chain drift in price indexes based on scanner data
The use of scanner data in the CPI makes it possible to compile superlative price indexes at detailed aggregation levels since prices and quantities are available. A potential drawback is the high attrition rate of items. The usual solution to handle this problem, high-frequency chaining, can create...
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| Veröffentlicht in: | Journal of econometrics 2011-03, Vol.161 (1), p.36-46 |
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| container_title | Journal of econometrics |
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| creator | de Haan, Jan van der Grient, Heymerik A. |
| description | The use of scanner data in the CPI makes it possible to compile superlative price indexes at detailed aggregation levels since prices and quantities are available. A potential drawback is the high attrition rate of items. The usual solution to handle this problem, high-frequency chaining, can create drift in the index series due to price and quantity bouncing arising from sales. Ivancic, Diewert and Fox (2009) have recently proposed an approach that provides drift free, superlative-type indexes through adapting multilateral index number theory. In this paper we apply their proposal to seven product groups and find promising results. We compare the results with those obtained by using the Dutch method to deal with supermarket scanner data. |
| doi_str_mv | 10.1016/j.jeconom.2010.09.004 |
| format | Article |
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We compare the results with those obtained by using the Dutch method to deal with supermarket scanner data.</description><subject>Chain drift</subject><subject>Consumer Price Index</subject><subject>Consumer price index (CPI)</subject><subject>Consumer price index (CPI) Chain drift Multilateral index number methods Scanner data Superlative indexes</subject><subject>Data aggregation</subject><subject>Economic theory</subject><subject>Monetary economics</subject><subject>Multilateral index number methods</subject><subject>Price index</subject><subject>Price indexation</subject><subject>Price planning</subject><subject>Retail prices</subject><subject>Scanner data</subject><subject>Scanners</subject><subject>Studies</subject><subject>Superlative indexes</subject><issn>0304-4076</issn><issn>1872-6895</issn><fulltext>true</fulltext><rsrctype>article</rsrctype><creationdate>2011</creationdate><recordtype>article</recordtype><sourceid>X2L</sourceid><recordid>eNqFUE1L7TAQDaLg9epPEMrbuOp9k6ZNm40i4hcIb_NchzSZasptel_SK_rvnVJx4eYFTnIYzpmZHMbOOWw4cPm73_RoxzAOmwKoBmoDUB6wFW_qIpeNqg7ZCgSUeQm1PGYnKfUAUJWNWLHL260ffDCTDy-ZfTU-ZC76bsqI7KK3SMThO6asNQldNoYsWRMCxsyZyZyyo85sE559vWv2fHf79-Yhf_pz_3hz_ZTbSoopd2VRcWUkjewaUKpC0Ra16mQH4JSz2LYtByEkdBJqLmvFpe2UlAjYykqINbtY-u7i-G-PadKDTxa3WxNw3CfdVE1RN0DD1uzXD2U_7mOg5WaRKCgURaJqEdk4phSx0_TXwcQPzUHPmepef2Wq50w1KE2Zku9x8UXcof02IZ1F_KaF4ZLT_UEg60z9XCTsCELqUurXaaBeV0svpNzePEadrMdg0fmIdtJu9P_Z5hOfg5lS</recordid><startdate>20110301</startdate><enddate>20110301</enddate><creator>de Haan, Jan</creator><creator>van der Grient, Heymerik A.</creator><general>Elsevier B.V</general><general>Elsevier</general><general>Elsevier Sequoia S.A</general><scope>DKI</scope><scope>X2L</scope><scope>AAYXX</scope><scope>CITATION</scope><scope>8BJ</scope><scope>FQK</scope><scope>JBE</scope></search><sort><creationdate>20110301</creationdate><title>Eliminating chain drift in price indexes based on scanner data</title><author>de Haan, Jan ; van der Grient, Heymerik A.</author></sort><facets><frbrtype>5</frbrtype><frbrgroupid>cdi_FETCH-LOGICAL-c563t-d42519a6483f80995e3b279f6f00d9dcebbb103360f607167916cf966e0eb6533</frbrgroupid><rsrctype>articles</rsrctype><prefilter>articles</prefilter><language>eng</language><creationdate>2011</creationdate><topic>Chain drift</topic><topic>Consumer Price Index</topic><topic>Consumer price index (CPI)</topic><topic>Consumer price index (CPI) Chain drift Multilateral index number methods Scanner data Superlative indexes</topic><topic>Data aggregation</topic><topic>Economic theory</topic><topic>Monetary economics</topic><topic>Multilateral index number methods</topic><topic>Price index</topic><topic>Price indexation</topic><topic>Price planning</topic><topic>Retail prices</topic><topic>Scanner data</topic><topic>Scanners</topic><topic>Studies</topic><topic>Superlative indexes</topic><toplevel>peer_reviewed</toplevel><toplevel>online_resources</toplevel><creatorcontrib>de Haan, Jan</creatorcontrib><creatorcontrib>van der Grient, Heymerik A.</creatorcontrib><collection>RePEc IDEAS</collection><collection>RePEc</collection><collection>CrossRef</collection><collection>International Bibliography of the Social Sciences (IBSS)</collection><collection>International Bibliography of the Social Sciences</collection><collection>International Bibliography of the Social Sciences</collection><jtitle>Journal of econometrics</jtitle></facets><delivery><delcategory>Remote Search Resource</delcategory><fulltext>fulltext</fulltext></delivery><addata><au>de Haan, Jan</au><au>van der Grient, Heymerik A.</au><format>journal</format><genre>article</genre><ristype>JOUR</ristype><atitle>Eliminating chain drift in price indexes based on scanner data</atitle><jtitle>Journal of econometrics</jtitle><date>2011-03-01</date><risdate>2011</risdate><volume>161</volume><issue>1</issue><spage>36</spage><epage>46</epage><pages>36-46</pages><issn>0304-4076</issn><eissn>1872-6895</eissn><coden>JECMB6</coden><abstract>The use of scanner data in the CPI makes it possible to compile superlative price indexes at detailed aggregation levels since prices and quantities are available. 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| identifier | ISSN: 0304-4076 |
| ispartof | Journal of econometrics, 2011-03, Vol.161 (1), p.36-46 |
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| subjects | Chain drift Consumer Price Index Consumer price index (CPI) Consumer price index (CPI) Chain drift Multilateral index number methods Scanner data Superlative indexes Data aggregation Economic theory Monetary economics Multilateral index number methods Price index Price indexation Price planning Retail prices Scanner data Scanners Studies Superlative indexes |
| title | Eliminating chain drift in price indexes based on scanner data |
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